The US government has decided to slap a higher than preliminarily set anti-dumping rate on large power transformers exported by a South Korean firm, the latest in a series of trade restrictions imposed on locally made goods under the Trump administration.
Hyundai Heavy Industries Co., a major shipyard here, said Thursday that the US Department of Commerce made a filing to impose a 61 percent anti-dumping duty on large power transformers produced by the shipbuilder.
(Yonhap)
In September last year, Hyundai Heavy was levied a 3.09 percent anti-dumping rate. Two other South Korean firms also faced preliminary rates ranging from 1.76 percent to 2.43 percent, according to the heavy industry company.
The anti-dumping ruling came amid concerns that the Trump administration may ratchet up its move toward protectionism under its slogan "America First."
In January of this year, the US International Trade Commission decided on a 3.96 percent-5.75 percent anti-dumping duty on dioctyl terephthalate from two South Korean companies.
Industry sources said South Korean firms, led by Hyundai Heavy, export some US $200 million worth of power transformers to the US a year. (Yonhap)