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S. Korean Washing Machines Fill US Quota, Subject to 50% Tariffs

Written: 2018-10-17 10:06:56Updated: 2018-10-17 10:34:42

S. Korean Washing Machines Fill US Quota, Subject to 50% Tariffs

Photo : YONHAP News

South Korean washing machines will be subject to 50 percent tariffs from the U.S. until February next year, as they have filled the annual export quota for this year. 

According to U.S. Customs and Border Protection on Wednesday, South Korean companies had shipped one-point-two million washing machines to fill the tariff rate quota as of October first.

The U.S. placed safeguards on imported washing machines on February seventh, levying 20 percent tariffs on one-point-two million units and 50 percent on all units exceeding that number in the case of South Korea.

Exports of washing machine parts reached their annual quota of 50-thousand on July 23rd.

According to the U.S. data, South Korean steel products, have about 920-thousand tons or 35 percent of the quota they are subject to left.

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