S. Korean roller bearings not harmful to U.S. industry: trade panel
Imports of South Korean tapered roller bearings do not hurt the U.S. domestic industry, a U.S. trade panel ruled Friday, saving the product from antidumping duties.
The U.S. International Trade Commission made the determination after the U.S. Department of Commerce deemed the goods to be sold in the U.S. at "less than fair value," according to a news release from the USITC.
The statement said that "a U.S. industry is not materially injured or threatened with material injury by reason of imports of tapered roller bearings from Korea."
Three members of the commission voted for the imports posing no threat to the domestic industry, one voted in the affirmative, and one abstained.
"As a result of the USITC's negative determination, no antidumping duty order will be issued," the statement said.
The petitioner is the Timken Company, a bearing manufacturer based in Ohio.
Imports of tapered roller bearings from South Korea, which are used in car and vehicle wheel bearings, were valued at $67.4 million in 2017, according to the department.
Source: Yonhap News Agency