The US Department of Commerce is contemplating imposing anti-dumping tariffs of up to 65.72 percent on specific chemical materials from South Korea, as per Seoul’s industry ministry. This decision follows a preliminary affirmative determination by the Department to levy anti-dumping duties ranging from 10.94 percent to 65.72 percent on two Korean companies exporting monomers and oligomers to the United States. The investigation was initiated by Washington about six months ago in response to a request from a US chemical producer regarding certain monomers and oligomers from Korea and Taiwan.
The initial margins proposed by the Department mark a substantial decrease from the 137 percent to 188 percent dumping margins initially claimed by the petitioner. The South Korean ministry has stated its intention to engage closely with the companies to ensure they are not subjected to unfair treatment in the final ruling expected in May. In a related development, South Korea’s trade watchdog recently made a preliminary decision to impose anti-dumping tariffs on PVC paste resin imports from Germany, France, Norway, and Sweden, citing potential harm to the domestic industry.
The Korea Trade Commission plans to request the Ministry of Economy and Finance to impose anti-dumping tariffs ranging from 25.79 to 42.81 percent on PVC paste resin imports from the four aforementioned countries. PVC paste resin, a durable plastic material composed of fine powder, finds application in various everyday items like wallpaper, sofas, shoes, and gloves. Additionally, the commission has initiated an investigation into allegations that three Chinese companies sold cold-rolled products of carbon steel or alloy steel below fair market value.
