Discovered sourcing Chinese goods, US imposes heavy tax on Korean aluminum cable company

On February 28, the Ministry of Trade, Industry and Energy of South Korea confirmed that the US imposed an anti-dumping tax of nearly 53% on aluminum cables produced by a Chinese company in the country and exported to the US.

The Ministry of Trade, Industry and Energy of South Korea said that raw materials for aluminum cable production are imported from China, then partially processed in Korea before being exported to the US. (Source: VNA)

According to the announcement, the anti-dumping tax rate is 52.79% and the anti-subsidy tax rate is 33.44% for products of Pusan ​​Cables & Engineering Company.

Pusan ​​Cables & Engineering is a South Korean-based company, but is identified as a wholly-owned subsidiary of a Chinese enterprise.

The raw materials for aluminum wire rope production are imported from China, then partially processed in Korea before being exported to the US, said the Ministry of Trade, Industry and Energy of South Korea.

The decision to impose this tax is the result of an investigation conducted by the US government since October 2023 into tax evasion on goods originating from China.

The incident comes amid ongoing trade tensions between the US and China.

In addition, Taihan Electric Wire, another South Korean exporter of aluminum cables, was exempted from the tariffs because the company proved it did not use aluminum originating from China.

Currently, other Korean aluminum cable companies are not exporting products to the US, the Ministry of Trade, Industry and Energy of South Korea revealed.

However, the agency pointed out that if companies plan to export, they must prove that the origin of the raw materials is not from China to avoid similar taxes.

Source: https://baoquocte.vn/phat-hien-lay-hang-trung-quoc-my-ap-thue-nang-cong-ty-cap-nhom-han-306079.html