Delegation Praises Trade Sanctions Against Hynix
57.37% countervailing duty against Korean semiconductors to be imposed
WASHINGTON, DC â?? Idaho Senators Larry Craig and Mike Crapo and Representatives Mike Simpson and C.L. â??Butchâ?? Otter praised the U.S. Department of Commerce ruling today to impose a 57.37% countervailing duty against Hynix Semiconductor. This afternoon the Department announced its affirmative preliminary determination in the countervailing duty investigation on imports of DRAMS from Korea. The Department has preliminarily found that imports of DRAMS were unfairly subsidized, with net subsidy rates ranging from 0.16 (de minimis) to 57.37 percent. The delegation members got the news of the preliminary ruling directly this morning in calls from Commerce Secretary Donald Evens. â??This action against Hynix is a vindication of what I have long contended and seeks to remedy a situation that has long frustrated me - the illegal subsidy of these computer chips,â?? Senator Craig said. â??These illegal government subsidies have no place in our global, high tech economy and the Commerce Department, by its action today, has recognized that fact.â??Senator Mike Crapo, a member of the Senate Banking Committeeâ??s Subcommittee on International Trade and Finance with jurisdiction over international trade issues, said if the preliminary ruling stands, it could force help Hynix out of the U.S. market and give Micron a huge boost. â??While this ruling is preliminary, the recommendation for 57.37 duties on Hynix DRAM is a strong signal to the rest of the world that the United States will not stand for unfair trade practices from the South Koreans,â?? Crapo said.â??Although this news comes too late for hundreds of Micron workers who have lost their jobs, it is validation of what we have known all along, South Korea has been subsidizing Hynix at the expense of Idaho jobs and families. Finally, there is help to level the playing field," said Simpson, whose district encompasses Micron. "I applaud Micron for initiating the complaint and the United States Department of Commerce for investigating this issue and making the correct finding of unfair trade practices by Hynix,â?? Representative Mike Simpson said.â??Today's Commerce Department action finally begins recognizing what we in Idaho have known for some time, and at great pain to our people and economy: South Korea and Hynix are engaging in illegal trade designed to keep a bankrupt company afloat. We can't move quickly enough to set this situation right and give Micron and its employees the chance to show they're ready to compete and win in a free and fair global marketplace,â?? Representative C.L. â??Butchâ?? Otter said.