South Korea will increase taxes on 480 million U.S. goods

[Adam WANG SHANGHAI MEGA]

South Korea will increase taxes on 480 million U.S. goods

2018-04-06 20:28:33

According to Reuters, South Korea officially notified the WTO on the 6th that it will seek to suspend tariff reductions on US goods worth US$ 480 million. This is the latest retaliation by South Korea for the protection measures initiated by US President Trump earlier this year.



Although Trump has always regarded China as a target of trade, he actually promoted many measures instead of hurting important East Asian countries such as Japan and South Korea.

For example, on January 23 this year, Trump asked for additional tariffs on imported washing machines and photovoltaic products, and South Korea’s Samsung, LG and other companies became one of the main victims.

According to statistics, the Whirlpool company in the United States accounts for about 40% of the market share in the domestic washing machine market, but Samsung and LG have a total share of 30%, and are on the rise. In November 2017, the U.S. International Trade Commission recommended to President Trump that in addition to the current tax rate, another 50% will be imposed on large domestic washing machines imported from South Korean companies Samsung and LG, which exceed 1.2 million units, within three years. tariff.

Affected by this tax increase, Samsung and LG have been forced to increase the washing machine price by 5%-10% this year.

Although the South Korean government soon announced that it would retaliate against the above-mentioned tariffs, South Korean companies have also had to comply with Trump's wishes to invest in the United States.

South Korea’s Samsung Electronics announced on January 14 that it will start the first washing machine factory in Newberry County, South Carolina, and plans to invest US$380 million (approximately RMB2.4 billion) in the United States over the next three years, producing one million a year. Washing machines create more than 1,000 jobs.

In 2017, Korea’s total exports of goods to the United States were 71.2 billion U.S. dollars and imports were 48.3 billion U.S. dollars. The increase in taxes this time involved only about 1% of imports.

 

[dy1022]

 

[Adam WANG SHANGHAI MEGA]

The "U.S. comes first" policy will hurt all countries, and Koreans have realized this.

 

[pher]

This is the spirits. The world is already taking enough of US's bully. Once China take the lead to snub it, there will be followers except those white-worshippers like modi and vietnam.

 

[powastick]

South Korea will increase taxes on 480 million U.S. goods

2018-04-06 20:28:33

According to Reuters, South Korea officially notified the WTO on the 6th that it will seek to suspend tariff reductions on US goods worth US$ 480 million. This is the latest retaliation by South Korea for the protection measures initiated by US President Trump earlier this year.

Although Trump has always regarded China as a target of trade, he actually promoted many measures instead of hurting important East Asian countries such as Japan and South Korea.

For example, on January 23 this year, Trump asked for additional tariffs on imported washing machines and photovoltaic products, and South Korea’s Samsung, LG and other companies became one of the main victims.

According to statistics, the Whirlpool company in the United States accounts for about 40% of the market share in the domestic washing machine market, but Samsung and LG have a total share of 30%, and are on the rise. In November 2017, the U.S. International Trade Commission recommended to President Trump that in addition to the current tax rate, another 50% will be imposed on large domestic washing machines imported from South Korean companies Samsung and LG, which exceed 1.2 million units, within three years. tariff.

Affected by this tax increase, Samsung and LG have been forced to increase the washing machine price by 5%-10% this year.

Although the South Korean government soon announced that it would retaliate against the above-mentioned tariffs, South Korean companies have also had to comply with Trump's wishes to invest in the United States.

South Korea’s Samsung Electronics announced on January 14 that it will start the first washing machine factory in Newberry County, South Carolina, and plans to invest US$380 million (approximately RMB2.4 billion) in the United States over the next three years, producing one million a year. Washing machines create more than 1,000 jobs.

In 2017, Korea’s total exports of goods to the United States were 71.2 billion U.S. dollars and imports were 48.3 billion U.S. dollars. The increase in taxes this time involved only about 1% of imports.

Probably because of this?

https://www.reuters.com/article/us-...trade-deal-with-u-s-humiliating-idUSKBN1H30B5

Hyundai's union says revised trade deal with U.S. 'humiliating'

Reuters Staff

2 MIN READ


SEOUL (Reuters) - Hyundai Motor Co’s (005380.KS) South Korean labor union on Tuesday called Seoul’s revised free trade deal with the United States “humiliating”, and said the extended tariffs on pick-up trucks mean a missed opportunity to tap into the U.S. market.

“The union has called for domestic (South Korean) production of pickup trucks for the past several years,” the union said in a statement, adding it believes the U.S. pickup truck market “represents the U.S. market’s blue ocean and the future bread and butter of the South Korean auto industry”.

Although no South Korean automakers currently export pickup trucks to the United States, Hyundai Motor had said last year it planned to launch a model there to catch up with a shift away from sedans.

The government’s agreement to revise the U.S.-Korea Free Trade Agreement’s auto industry section “is a humiliating negotiation that accepted Trump’s ‘strategy to preemptively block Korean pickup trucks’”, the union said.

Hyundai was the worst performer among major automakers in the United States as of February, with its sales down 12 percent year-on-year over the first two months of this year due to its heavy reliance on sedans and its aging SUV models. This compares to the market’s 0.8 percent drop over the period.


“Among potential offerings from (Korean) automakers in the U.S. market, Hyundai Motor’s pickup truck is likely to be made locally (in the U.S.),” Yoo Ji-woong, analyst at eBest Investment & Securities, wrote in a note on Tuesday.

Hyundai Motor said on Monday it was “too early to elaborate on the details such as the estimated timing of the model release and production location”.

 

[oprih]

Good, the world should be united in slapping sanctions and tariffs and fighting back against the bully that is usa.

 

[Kiss_of_the_Dragon]

Japan is still back down to US's pressure, their sickness of Plazza accord is far from over.

 

[AndrewJin]

PDF's dark-skinned slaves of the Trump regime should come out of the closet, throw cow shi*s to Koreans, and force Koreans to drink kau urina.

 

[Pyara9]

South Korea will increase taxes on 480 million U.S. goods

2018-04-06 20:28:33

According to Reuters, South Korea officially notified the WTO on the 6th that it will seek to suspend tariff reductions on US goods worth US$ 480 million. This is the latest retaliation by South Korea for the protection measures initiated by US President Trump earlier this year.



Although Trump has always regarded China as a target of trade, he actually promoted many measures instead of hurting important East Asian countries such as Japan and South Korea.

For example, on January 23 this year, Trump asked for additional tariffs on imported washing machines and photovoltaic products, and South Korea’s Samsung, LG and other companies became one of the main victims.

According to statistics, the Whirlpool company in the United States accounts for about 40% of the market share in the domestic washing machine market, but Samsung and LG have a total share of 30%, and are on the rise. In November 2017, the U.S. International Trade Commission recommended to President Trump that in addition to the current tax rate, another 50% will be imposed on large domestic washing machines imported from South Korean companies Samsung and LG, which exceed 1.2 million units, within three years. tariff.

Affected by this tax increase, Samsung and LG have been forced to increase the washing machine price by 5%-10% this year.

Although the South Korean government soon announced that it would retaliate against the above-mentioned tariffs, South Korean companies have also had to comply with Trump's wishes to invest in the United States.

South Korea’s Samsung Electronics announced on January 14 that it will start the first washing machine factory in Newberry County, South Carolina, and plans to invest US$380 million (approximately RMB2.4 billion) in the United States over the next three years, producing one million a year. Washing machines create more than 1,000 jobs.

In 2017, Korea’s total exports of goods to the United States were 71.2 billion U.S. dollars and imports were 48.3 billion U.S. dollars. The increase in taxes this time involved only about 1% of imports.

Oh now i i know where the dumbass got the idea from. Just because S.Korea kissed *** he wanted to try the same idea with the entire world. Fail.

 

[Actuary]

South Korea has been on the favorable ends of US trading agreements for decades. Even with the renegotiated trade deal, they're still in an advantageous position.

This just goes to show how much other countries take our generosity for granted. They expect us subsidize their countries forever. We have our own to take care of.

SK should watch their backs. Same with Japan and other countries that take advantage of the US.

 

[Adam WANG SHANGHAI MEGA]

Curretnly,the most powerful countries in the world US say that other countries have invaded you?
The most powerful country in the world is really pathetic.

Do you Americans think that the IQ of people in other countries is as low as you are?

If Americans do not feel safe, which country is safe?

 

[AndrewJin]

US is taking advantage of the entire world, enjoying free food and drugs whilst steping on the corpses of innocent children.

This regime should be entirely nuked.

Its people, those who have once served the military or evil industries, will go to hell,
the rest, go back home.

Immigrant countries are easily to be dismantled.
They don't have national spirits.