Korea Large Residential Washers: Prelim CV Cash Deposit Rates Take Effect
The International Trade Administration made a preliminary affirmative determination that countervailable subsidies are being provided to producers and exporters of large residential washers from Korea (C-580-869). The ITA found preliminary CV rates of de minimis to 70.58%, which are effective June 5, 2012. U.S. Customs is expected to implement these CV cash deposit requirements soon. Pursuant to the ITA's October 2011 final rule, no bond will be accepted in lieu of a cash deposit.
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AD Suspension of Liquidation and Cash/Bond Requirements
The ITA will instruct CBP to suspend liquidation for all entries of subject merchandise from Korea that are entered, or withdrawn from warehouse, for consumption on or after June 5, 2012, other than those exported by LG because LG's rate is de minimis.
The preliminary CV cash deposit rates are as follows:
| Manufacturer/Exporter | Prelim CV Rate |
|---|---|
| Samsung Electronics Co., Ltd. | 1.20% |
| LG Electronics Inc. | de minimis |
| Daewoo Electronics Corporation | 70.58% |
| All others rate | 1.20% |
(The period of investigation is 01/01/2011 - 12/31/2011. See ITA’s notice for more information, including alignment of this CV investigation with its companion antidumping investigation (both the AD and CV final determinations are now scheduled to be issued on or about October 10, 2012), the ITA's finding that Daewoo did not cooperate and consequent assignment of an adverse facts available (AFA) rate, comments on scope (the ITA said it will consider these comments in its AD preliminary determination), suspension of liquidation, etc.
See ITT’s Online Archives 12053121 for summary of the ITA’s fact sheet on this preliminary determination. See ITT’s Online Archives 12012703 for summary of initiation of this CV investigation, and 12012560 for summary of initiation of this case's companion antidumping investigation.
See ITT's Online Archives 11100305 for summary of the ITA's October 2011 final rule ending the bond option after preliminary determinations.)
ITA contact -- Justin M. Neuman (202) 482-0486