US Govt Levies Hefty Anti-dumping Duties on Hyundai Heavy Industries’ Transformers
Hyundai Heavy Industries (HHI)’s transformers are hit hard by heavy anti-dumping duties in the US.
Hyundai Heavy Industries (HHI) said on March 9 that the U.S. Department of Commerce had decided to impose a 61 percent anti-dumping duty on its power transformers, about 20 times higher than the 3.09 percent anti-dumping rate set preliminarily in September last year.
HHI’s transformers exported to the US between July 2015 and August 2014 are subject to the 61 percent anti-dumping duty.
In September 2016, two other South Korean firms, Iljin and Hyosung, were also slapped with anti-dumping duties of 2.43 percent and 1.76 percent, respectively.
An HHI official said, “This is unfair. We will take legal action against the preposterous ruling.” HHI plans to file a complaint in the U.S. Court of International Trade (CIT) to lower the punitive rate.