President Donald Trump Kevin Lamarque Reuters
This come after USA president Donald Trump slapped heavy duties on imported washing machines and solar cells, under the International Trade Commission's recommendations made last month.
South Korea has pushed to stop the US from imposing the restrictions, arguing the move would only damage USA interests.
That year, South Korean companies also exported US$1.3 billion in solar cells to the USA, ranking third in the world after Malaysia and China, according to government data.
South Korean tech giants Samsung Electronics and LG Electronics have responded to U.S. President Donald Trump's decision on the recommendations raised by the International Trade Commission over washing machines that the two companies are bringing to the U.S.
Under the safeguard measure on washing machines, a 20 percent tariff will be imposed on the first 1.2 million imported large residential washers in the first year, and a 50 percent tariff on additional machines. The 1.2 million washing machines included in the tariff-rate quota (TRQ) are subject to a tariff of 20%. Now Samsung is saying that production and supplies at its new US -based plant will continue without any problems, Korea Herald has learned. That will fall to 25 percent in the second year, 20 percent in the third year and 15 percent in the fourth year.
Parents, teachers work to keep ECOT open for remainder of school year
He's recommending the state Board of Education move to recoup that money, too. OH already started recouping $60 million from the 2015-16 school year.
New York Metropolis sues Large Pharma over the opioid epidemic
In 2016, more than 1,000 people in New York City died of opioid-related overdoses, the largest number on record for one year. That is a major issue in New York City and the Tri-State Area given the area's transit problems and aging roads and bridges.
Putin takes dip in icy Russian lake on Epiphany
Epiphany is celebrated on January 19, the day when it is believed infant Jesus was visited by the Three Wise Men. Nilus Stolobensky Monastery on Lake Seliger in Svetlitsa village, Russia, Friday, Jan. 19, 2018.
Whirlpool Corp., whose Clyde, Ohio, factory is the world's largest washing-machine plant, had sought heavy tariffs on all washers sold in the United States made either by Samsung Electronics Co. or LG Electronics Inc. Besides, the import restrictions are applied to those produced in South Korea, too. This is easier said than done though.
LG went on to point out that with the safeguard measures in place, operations at its under-construction plant in Tennessee is at risk. In fact, the overall impact of the new tariffs is far from clear.
Upon learning that Trump has not only agreed to the restrictions, but also decided on imposing harsher safeguard measures on its washers, Samsung issued a statement saying the new restrictions will mostly affect US consumers. Due to the import restrictions, however, solar cell products exceeding a cumulative capacity of 2.5 gigawatts have to face a tariff of 30% on a yearly basis.
South Korean solar panel makers are expected to take a bigger hit.
Recommended News
-
23 January 2018Domino's Pizza Group (DOM) PT Raised to GBX 415
BACON ASHLEY sold $1.84 million worth of JPMorgan Chase & Co. 7,276 shares were sold by WEINER RUSSELL J , worth $1.42 million. Lombard Odier Asset Management Usa Corp bought 35,000 shares as the company's stock rose 5.63% with the market.Gentex Corporation (GNTX) EPS Estimated At $0.32
Moreover, Norris Perne And French Limited Liability Partnership Mi has 0.06% invested in Gentex Corporation (NASDAQ:GNTX). The stock of Gentex Corporation (NASDAQ:GNTX) has "Buy" rating given on Thursday, October 12 by KeyBanc Capital Markets.
23 January 2018Trump signs off on agreement to reopen federal government
Senate Democrats, who had sought firmer guarantees from McConnell on immigration, were initially reluctant to accept his terms. The upper chamber was expected to pass the measure Monday afternoon, then send it to the House for quick approval. -
Ratel Gold Ltd (RTLGF) Shares Moving -4.50% On Volume
Baird set a $21.00 price target on EnLink Midstream and gave the stock a "hold" rating in a report on Friday, November 17th. Credit Suisse Group assumed coverage on shares of EnLink Midstream Partners in a research report on Friday, January 5th.
23 January 2018EFCC asks court to revoke Metuh's bail
The defence lawyer sought an adjournment to enable him to report the status of the issues of his client's health to the court. Mohammed Sambo Dasuki, the former National Security Adviser during the administration of President Goodluck Jonathan .Ameriprise Financial Inc. Has $4.99 Million Stake in Vistra Energy Corp (VST)
The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Considering that the stock recent volume of 7149348 shares, this represents a pretty noteworthy trading in volume size. -
23 January 2018Overturned tractor-trailer shuts down 2 lanes on I-85
State police responded around 10:13 a.m., and the overturned truck was found in the work zone at the Route 17 West split. Missouri State Highway Patrol spokesman Juston Wheetley did not immediately have information about the victims.Cory Gardner and Michael Bennet vote yes to end government shutdown
Republicans have continued to reiterate that they will not negotiate on immigration and DACA while the government is shut down . Trump has staked his political fortunes on taking a hard line on immigrants, painting them as criminals and scroungers.
23 January 2018Michael Jordan Explained Hornets' Position On Trade To Kemba Walker
Teammate Nicola Batum said he means "everything" for the Hornets and can't imagine how they could possibly trade him. The team is seven games below.500 while the front office is hamstrung by a number of bad contracts. -
23 January 2018Nigeria's former president says Buhari should not seek re-election
He said when he met with Buhari to advise him, the President said he should not worry, that everything was going as planned. Before, he refused to do that because he thought politicians are responsible for all the evils in this country.Choosing Between Dollar Tree, Inc. (DLTR) and Burlington Stores, Inc. (BURL)?
The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.65 by $0.05. Fiera Capital Corp acquired a new position in shares of Burlington Stores during the second quarter worth about $80,654,000.
23 January 2018Budweiser ousted from list of 3 favorite beers in the US
Michelob Ultra and Modelo Especial both jumped ahead of Natural Light to become the sixth and seventh best-selling beers. Magic Hat and Pyramid parent North American Beverage shipment volume is down 14% over the past five years.
