ITC to consider removing tariffs on Korean transformers
USA, New York: The U.S. International Trade Commission (ITC) has launched a review of anti-dumping duties on South Korean power transformers, which may be removed if the agency finds that the products are no longer posing a threat to domestic energy companies.
According to Law360, the ITC said: “The commission hereby gives notice that it has instituted a review … to determine whether revocation of the anti-dumping duty order on large power transformers from Korea would be likely to lead to continuation or recurrence of material injury. Interested parties are requested to respond to this notice by submitting the information specified below to the commission.”
The ITC set a 2 August deadline for comments, which should assist in the commission’s analysis of the effect that the South Korean transformers are having on the U.S. market.
The U.S. government installed anti-dumping duties on the transformer imports from South Koreainstalled anti-dumping duties on the transformer imports from South Korea after a petition from a group of domestic transformer manufacturers alleged that South Korean transformers were being sold at unfairly low prices.
Over the years, those margins have been adjusted. For example, recently Hyundai Heavy Industry saw its dumping margin raised to 60.81 percent.