{"id":46413,"date":"2018-01-23T08:00:36","date_gmt":"2018-01-23T16:00:36","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/?p=46413"},"modified":"2018-01-27T02:41:51","modified_gmt":"2018-01-27T10:41:51","slug":"us-to-impose-tariffs-china-and-south-korea-unhappy-trade-targets","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/us-to-impose-tariffs-china-and-south-korea-unhappy-trade-targets\/","title":{"rendered":"US to impose tariffs: China and South Korea unhappy trade targets"},"content":{"rendered":"

\"\"\"\"<\/a><\/h4>\n

COGwriter<\/a><\/h4>\n

The government of the USA announced the following today:<\/p>\n

January 23, 2018<\/p>\n

President Trump Approves Relief for U.S. Washing Machine and Solar Cell Manufacturers<\/p><\/blockquote>\n

\n
\n
\n
\n
\n
\n

Washington, DC <\/em>\u2013 U.S. Trade Representative Robert Lighthizer announced today that President Trump has approved recommendations to impose safeguard tariffs on imported large residential washing machines and imported solar cells and modules.<\/p>\n

USTR made the recommendations to the President based on consultations with the interagency Trade Policy Committee (TPC) in response to findings by the independent, bipartisan U.S. International Trade Commission (ITC) that increased foreign imports of washers and solar cells and modules are a substantial cause of serious injury to domestic manufacturers.<\/p>\n

\u201cThese cases were filed by American businesses and thoroughly litigated at the International Trade Commission over a period of several months,\u201d said Ambassador Lighthizer.<\/strong> \u201cThe ITC found that U.S. producers had been seriously injured by imports and made several recommendations to the President. Upon receiving these recommendations, my staff and I conducted an exhaustive process which included opportunities to brief in person and through public comments, public hearings, and meetings with senior representatives. Based on this information, the Trade Policy Committee developed recommendations, which the President has accepted. The President\u2019s action makes clear again that the Trump Administration will always defend American workers, farmers, ranchers, and businesses in this regard.\u201d<\/p>\n

For imports of large residential washers, the President approved applying a safeguard tariff-rate quota for three years with the following terms:<\/p>\n\n\n\n\n\n\n\n
<\/td>\nYear 1<\/td>\nYear 2<\/td>\nYear 3<\/td>\n<\/tr>\n
First 1.2 million units of imported finished washers<\/td>\n20%<\/td>\n18%<\/td>\n16%<\/td>\n<\/tr>\n
All subsequent imports of finished washers<\/td>\n50%<\/td>\n45%<\/td>\n40%<\/td>\n<\/tr>\n
Tariff on covered parts<\/td>\n50%<\/td>\n45%<\/td>\n40%<\/td>\n<\/tr>\n
Covered parts excluded from tariff<\/td>\n50,000 units<\/td>\n70,000 units<\/td>\n90,000 units<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Injury to U.S. washing machine manufacturers stems from a sharp increase in imports that began in 2012.\u00a0 The ITC found that imports of large residential washers increased \u201csteadily\u201d from 2012 to 2016, and that domestic producers\u2019 financial performance \u201cdeclined precipitously.\u201d<\/p>\n

For imports of solar cells and modules, the President approved applying safeguard tariffs for the next four years with the following terms:<\/p>\n\n\n\n\n\n
<\/td>\nYear 1<\/td>\nYear 2<\/td>\nYear 3<\/td>\nYear 4<\/td>\n<\/tr>\n
Safeguard Tariff on Modules and Cells<\/td>\n30%<\/td>\n25%<\/td>\n20%<\/td>\n15%<\/td>\n<\/tr>\n
Cells Exempted from Tariff<\/td>\n2.5 gigawatts<\/td>\n2.5 gigawatts<\/td>\n2.5 gigawatts<\/td>\n2.5 gigawatts<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The relief will include a tariff of 30 percent in the first year, 25 percent in the second year, 20 percent in the third year, and 15 percent in the fourth year.\u00a0 Additionally, the first 2.5 gigawatts of imported solar cells will be exempt from the safeguard tariff in each of those four years.<\/p>\n

The U.S. Trade Representative will engage in discussions among interested parties that could lead to positive resolution of the separate antidumping and countervailing duty measures currently imposed on Chinese solar products and U.S. polysilicon.<\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

China and South Korea are not pleased:<\/p>\n

23 January 2018<\/p>\n

‘America First’ tariffs on imports spark Asia outcry<\/h2>\n

China and South Korea have vowed to defend their interests after the US slapped new tariffs on imported washing machines and solar panels.<\/p>\n

The tariffs – of up to 50% – will affect the two Asian countries more than any other.<\/p>\n

They are part of US President Donald Trump’s “America First” trade policy, which aims to protect local manufacturers from foreign competition.<\/p>\n

South Korea said it would complain to the World Trade Organization (WTO).<\/p>\n

China, the world’s biggest solar panel producer, said the move was an “overreaction” and pledged to “work with other WTO members to resolutely defend its legitimate interests”. …<\/p>\n

China’s Ministry of Industry and Information Technology said the country’s fast-paced growth in the solar sector had made it a “target of protectionism”.<\/p>\n

However US appliance maker Whirlpool, which for years has sought protection against cheaper imports from South Korea and Mexico, welcomed the move.<\/p>\n

“This announcement caps nearly a decade of litigation and will result in new manufacturing jobs in Ohio, Kentucky, South Carolina and Tennessee<\/a>,” chairman Jeff Fettig said in a statement. http:\/\/www.bbc.com\/news\/world-42786995<\/a><\/p><\/blockquote>\n

Thus, we see some in the USA pleased and some in Asia upset. I suspect that the timing of this is related to the World Economic Forum which began in Davos today (Davos is shown next to the magazine above).<\/p>\n

Whether one agrees or disagrees with the tariffs, consider that what Donald Trump is doing is consistent with his official positions that were at his presidential candidacy website when he sought office:<\/p>\n

\n

DONALD J. TRUMP\u2019S VISION<\/h3>\n