S. Korean washer parts fill U.S. export quota, will be subject to high tariffs: data
SEOUL, July 29 (Yonhap) -- South Korean washer parts to the United States effectively filled their annual export quota and will be subject to 50 percent tariffs for the rest of 2018, official data showed Sunday.
According to the U.S. Customs and Border Protection (CBP) South Korean companies had shipped parts for 49,963 washers as of last Monday, which is 99.93 percent of the 50,000 washing machines it can ship without paying duties, as outlined by Washington's safeguard measures.
Under the safeguard action that took effect on Feb. 7, the United States said it will levy stiff tariffs on parts used to make the home appliance. Complete washers exceeding 1.2 million units in the first year of the safeguard going into effect will have to pay the same level of high import duties.
Samsung Electronics Co. and LG Electronics Inc., which ship washers and parts to the key North American market, had earlier asked for an exception on parts, but the request was turned down.
Besides parts, the CBP findings showed South Korean companies exhausted 43.7 percent of its quota for complete washers by selling 524,408 machines so far this year. The lower number is due to Samsung making the appliance at its North Carolina plant starting in January. South Korea was allocated 1.2 million complete washers in the first years of the safeguard.
Samsung washers being made in the United States (Yonhap)
In regard to steel products that are also under restrictions, the official data showed that as ....