U.S. finalizes anti-dumping duties on S. Korean PET resin

The United States Department of Commerce has set anti-dumping duties on polyethylene terephthalate (PET) resin from South Korea and four other nations, its website showed Wednesday.

U.S. finalizes anti-dumping duties on S. Korean PET resin

The commerce department said PET resin products imported from South Korea, Brazil, Indonesia, Pakistan and Taiwan were sold at "less than fair value rates" in the U.S. market, finalizing anti-dumping tariffs ranging from 5.16 percent to 275.89 percent.

Under the decision, South Korean exporters will be assessed duties of 8.23-101.41 percent on PET resin sold in the U.S. market.

The U.S. imported $24 million worth of PET resin from South Korea in 2016 and the amount jumped to $127.3 million in 2017, according to the commerce department.

PET resin is mainly used to make bottles, jars, containers and various other packaging applications. Source from the Yonhap.

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