The U.S. Commerce Department, in a ruling on Nov. 24, said four Chinese TV makers were pricing color TVs in the U.S. at less than fair value.
It announced anti-dumping duties of 28 to 46 percent on imported TVs from China. Importers from China will post cash deposits or bonds pending announcement of final anti-dumping duties in April, a Commerce Department statement said.
The dumping finding was made against Chinese TV makers TCL, Sichuan Changhong Electronic Co., Shenzhen Konka Group Co. Ltd., and Xiamen Overseas Chinese Electronic Co. Ltd.
U.S.-based TV maker Five Rivers Electronic Innovations LLC and two labor groups made a similar complaint against Malaysian TV makers, but the Commerce Department did not rule against those firms. Five Rivers and the unions said that between the years 2000 and 2002, U.S. color TV imports from China and Malaysia had leapt from 209,887 units to 2.65 million.
"Dumping can seriously injure or destroy an entire industry," Tom Hopson, president of Five Rivers, said in a statement. "U.S. workers lose jobs when employers are forced to compete with unfair imports, which pressure U.S. manufacturers to lower prices in what is typically a futile attempt to maintain market share," he added. (Reuters)
Back to Breaking News