US ITC “No Industrial Damage” Conclusion… KT&G receives tariff refund
The US government’s anti-dumping investigation on Korean tobacco imports has been ended without any additional tariffs.
According to the Ministry of Trade, Industry and Energy on the 7th, the U.S. International Trade Commission (ITC) finally determined that there was no industrial damage in Korea on the 5th (local time) in an industrial damage investigation for Korean-made grade 4 cigarettes (target company KT&G).
Of the five ITC members, three presented the opinion of’no industrial damage’ and two presented the opinion of’there is industrial damage’ and finally concluded that there was no industrial damage.
The anti-dumping investigation in the United States consists of a dumping margin investigation (Ministry of Commerce) and an industrial damage investigation (ITC), and the investigation is terminated if any one of them is negative.
Accordingly, the anti-dumping investigation on Korean cigarettes will be terminated without any separate anti-dumping tariff imposition, regardless of the results of the final anti-dumping decision by the Ministry of Commerce.
Earlier, on December 7, the Ministry of Commerce confirmed a dumping margin of 5.48% for Korean grade 4 cigarettes.
According to the ITC’s final decision, KT&G will receive a refund of the provisional tariffs deposited with the US Customs Service since July last year.
Grade 4 tobacco refers to cigarettes with a length of 7 to 12 cm and a diameter of less than 1.3 cm and with a stem content of 10% or more.
The anti-dumping investigation on Korean-made grade 4 cigarettes in the United States began in December 2019 with a complaint from local tobacco companies such as Excalibur, and was conducted for about a year.
The final report on industrial damage will be released on the ITC website on February 9.
/yunhap news
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution