Trump’s shape guard, Next target to be steel & semiconductor?
Park Jung Il | comja77@ | 2018-01-25 11:09:18
The US Trump Administration, which has a `super-power`, which is aimed at importing washing machines and photovoltaic products, is targeting steel imports, automobiles, semiconductors, and chemicals as the next target for import regulation.
KOTRA (Korea Trade & Investment Promotion Agency) cited steel, automobiles, and household appliances as the expected items for import regulation in the US in the report on the import regulation trend in the second half of 2017 and the first half of 2018 forecast.
Meanwhile, home appliances, the safety guards of washing machines were decided on 23rd, so it is possible to analyze that the `arrows` of US will concentrate on steel and automobiles in the future.
The US has criticized the Korean steelmakers for dumping and exporting low-priced steel to the US due to government subsidies and excess production. The fact that South Korea is processing excess Chinese steel and re-exporting it to the United States was also the subject of US complaints.
According to KOTRA, the US Department of Commerce has increased its anti-dumping and countervailing duty personnel last year in response to steel imports. It also operates `steel import monitoring and analysis system` and is responding to trade remedy such as anti-dumping.
Especially, the global steel industry is paying attention to the announcement of the results of the 232-item Trade Expansion Act, which assesses whether imported products infringe US security. On Tuesday, Commerce Secretary Wilbur Ross presented a report on Trump to President Bill Clinton, 232 of the Trade Expansion Act on steel imports.
In the automotive industry, the Trump government is expected to push for increased production and employment in the United States. President Trump has raised the level of pressure on GM, Ford and Toyota since he was elected president. The related companies have announced plans to promote production facilities in the US or to expand their jobs.
KOTRA stated, "Companies that are not specifically mentioned, such as Korean companies, are feeling some pressure and are considering signs of change by examining the expansion of production facilities in the United States." This atmosphere will affect the overall manufacturing industry in the future. "
KOTRA also added that US imports of finished goods and parts from Asia, including Korea, are expected to decline as auto and home appliance manufacturers increase their production in the United States.
The move by the United States to tighten import regulations on the automotive industry is expected to have a significant impact on the negotiation of the Korea-US Free Trade Agreement (FTA). It is expected that the process of revision negotiations will be extremely difficult because our trade authorities should take advantage of our interests by preventing such offensive in the United States.
Semiconductors, the largest export item in Korea, are also emerging as targets for US pressure. Recently, the US International Trade Commission (ITC) has asked Korean, Chinese, Taiwanese and Japanese companies to investigate the violation of the customs law of the next-generation storage device such as Solid State Drive (SSD). There is also a view that domestic lawsuits are aimed at Korean companies. Samsung Electronics has the largest share of 30% in the SSD market.
In the field of chemistry, the ITC launched preliminary stages of the antidumping investigation on PET (polyethylene terephthalate) resins that were exported to the US by five countries including Korea in September of last year.
In March, the US Trade Representative`s (USTR) annual trade policy agenda and annual national trade barriers (NTE) report will be released. This report is expected to reflect the tough tradition of the Trump Administration. In April, the US Department of the Treasury`s annual exchange rate report and USTR`s Annual Special 301 report will be presented. In particular, regarding the announcement of the exchange rate report, it is said that the Trump administration, which is in the middle of the election, is likely to carry out a surge such as the designation of a currency manipulation station in Korea.
"President Trump is demonstrating the American First trade policy in a way that bypasses the parliamentary approval process through administrative orders and existing trade laws," he said. We have all the means to control imports. "
On the other hand, the United States was ranked as the most import regulator in Korea (31 cases) as of the end of last year. Followed by India with 28, followed by Turkey (15) and China (14). There are a total of 18 countries in Korea with 277 regulated import regulations. Compared with the end of June last year, three cases decreased.
By Park Jung Il comja77@
[ copyright ⓒ The Digitaltimes ]
KOTRA (Korea Trade & Investment Promotion Agency) cited steel, automobiles, and household appliances as the expected items for import regulation in the US in the report on the import regulation trend in the second half of 2017 and the first half of 2018 forecast.
Meanwhile, home appliances, the safety guards of washing machines were decided on 23rd, so it is possible to analyze that the `arrows` of US will concentrate on steel and automobiles in the future.
The US has criticized the Korean steelmakers for dumping and exporting low-priced steel to the US due to government subsidies and excess production. The fact that South Korea is processing excess Chinese steel and re-exporting it to the United States was also the subject of US complaints.
According to KOTRA, the US Department of Commerce has increased its anti-dumping and countervailing duty personnel last year in response to steel imports. It also operates `steel import monitoring and analysis system` and is responding to trade remedy such as anti-dumping.
Especially, the global steel industry is paying attention to the announcement of the results of the 232-item Trade Expansion Act, which assesses whether imported products infringe US security. On Tuesday, Commerce Secretary Wilbur Ross presented a report on Trump to President Bill Clinton, 232 of the Trade Expansion Act on steel imports.
In the automotive industry, the Trump government is expected to push for increased production and employment in the United States. President Trump has raised the level of pressure on GM, Ford and Toyota since he was elected president. The related companies have announced plans to promote production facilities in the US or to expand their jobs.
KOTRA stated, "Companies that are not specifically mentioned, such as Korean companies, are feeling some pressure and are considering signs of change by examining the expansion of production facilities in the United States." This atmosphere will affect the overall manufacturing industry in the future. "
KOTRA also added that US imports of finished goods and parts from Asia, including Korea, are expected to decline as auto and home appliance manufacturers increase their production in the United States.
The move by the United States to tighten import regulations on the automotive industry is expected to have a significant impact on the negotiation of the Korea-US Free Trade Agreement (FTA). It is expected that the process of revision negotiations will be extremely difficult because our trade authorities should take advantage of our interests by preventing such offensive in the United States.
Semiconductors, the largest export item in Korea, are also emerging as targets for US pressure. Recently, the US International Trade Commission (ITC) has asked Korean, Chinese, Taiwanese and Japanese companies to investigate the violation of the customs law of the next-generation storage device such as Solid State Drive (SSD). There is also a view that domestic lawsuits are aimed at Korean companies. Samsung Electronics has the largest share of 30% in the SSD market.
In the field of chemistry, the ITC launched preliminary stages of the antidumping investigation on PET (polyethylene terephthalate) resins that were exported to the US by five countries including Korea in September of last year.
In March, the US Trade Representative`s (USTR) annual trade policy agenda and annual national trade barriers (NTE) report will be released. This report is expected to reflect the tough tradition of the Trump Administration. In April, the US Department of the Treasury`s annual exchange rate report and USTR`s Annual Special 301 report will be presented. In particular, regarding the announcement of the exchange rate report, it is said that the Trump administration, which is in the middle of the election, is likely to carry out a surge such as the designation of a currency manipulation station in Korea.
"President Trump is demonstrating the American First trade policy in a way that bypasses the parliamentary approval process through administrative orders and existing trade laws," he said. We have all the means to control imports. "
On the other hand, the United States was ranked as the most import regulator in Korea (31 cases) as of the end of last year. Followed by India with 28, followed by Turkey (15) and China (14). There are a total of 18 countries in Korea with 277 regulated import regulations. Compared with the end of June last year, three cases decreased.
By Park Jung Il comja77@