March 08, 2005

Delegation Applauds ITC Decision

Rules that Hynix subsidization of DRAM imports injured domestic producers â?? upholds duty

WASHINGTON, DC â?? Idaho Senators Larry Craig and Mike Crapo and Congressmen Mike Simpson and C.L. â??Butchâ?? Otter applauded the ruling today by the International Trade Commission (ITC) that the domestic DRAM industry was materially injured by Hynix Semiconductorâ??s subsidized DRAM imports into the U.S. This ruling paves the way for the Department of Commerceâ??s previously determined 44.29% tariff on Hynix to go into effect.â??Hynix and the Korean government have been officially caught with their hand in the cookie jar and I am pleased that the ITC is upholding their punishment,â?? Senator Larry Craig said. â??Micron and the U.S. DRAM industry made a strong case and I applaud the Department of Commerce and the International Trade Commission for recognizing that free trade must be fair trade.â??Senator Mike Crapo, a member of the Senate Banking Committeeâ??s Subcommittee on International Trade said, â??The system works. This vote is vindication for Micron and for its employees and it shows confidence that America will protect its companies from unfair trade practices.â??â??This decision proves what we have all suspected for years -- the Korean government has been subsidizing Hynix and American companies have paid the price in layoffs and decreased profits,â?? Congressman Mike Simpson said. â??This news should boost the American DRAM industry and help prevent further job loses. Micron and its employees deserve a lot of credit for bringing forward this case and seeing to completion.â??Congressman C.L. â??Butchâ?? Otter, a member of the House Energy and Commerce Subcommittee on Commerce, Trade and Consumer Protection said, â??This decision provides the international authority necessary to make these countervailing duties stick. Micron made its case long ago, and I hope the South Korean government gets the clear message from today's vote: America wants free trade, but we will not stand by while our producers lose millions of dollars and their employees lose jobs because of unfairly subsidized foreign imports. The Koreans and Hynix need to come to terms with our commitment to fair trade.â??[30]