Local electronics makers on Thursday vowed to take action against the recent move from the U.S. International Trade Commission to side with a preliminary decision from the U.S. Commerce Department to issue them with anti-dumping duties.
The firms claimed that the decision was biased and reflected Washington’s protectionist policies, and that it also would be restricting the choice of U.S. consumers.
Wayne Park, president and CEO of LG Electronics USA, said in a statement, “LG respects the work the ITC Staff and Commissioners have put into this determination, but we disagree with the result, which will harm U.S. retailers and consumers by artificially raising prices on some of the country’s most popular washing machines.”
On Wednesday, the ITC said in a statement that it has determined that “a U.S. industry is materially injured due to large residential washers from Korea” found to be sold at a “less than fair value” by the U.S. Department of Commerce.
Consequently, the ITC said the Commerce Department will “issue a countervailing duty order on imports of these products from Korea and antidumping duty orders on imports of these products from Korea and Mexico.”
Earlier, the U.S. Commerce Department had estimated that Korean washer producers were undercutting prices by more than 80 percent in some cases.
Considering that local manufacturers export up to $1 billion worth of washers ― produced in both Korea and Mexico ― to the U.S., the impact of the ITC decision could be huge, industry watchers and company officials alike said.
Samsung Electronics has said it would seek legal actions, such as appealing to the World Trade Organization, to refute the move.
By Kim Ji-hyun and news reports
(
jemmie@heraldcorp.com)
