Korea Fridge-Freezers: Final CV Cash Deposit/Bond Rates Take Effect
The International Trade Administration issued its final affirmative countervailing duty determination on bottom mount combination refrigerator-freezers from Korea (C-580-866) that countervailable subsidies are being provided to producers and exporters of subject merchandise. The ITA found CV rates of de minimis to 12.9%, which are officially effective as of March 26 for all firms. U.S. Customs and Border Protection is expected to implement these CV cash deposit/bond requirements soon.
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(On September 6, 2011, the ITA published a preliminary negative CV determination on fridge-freezers from Korea. As a result of this affirmative final CV determination, for the first time, the ITA is directing CBP to suspend CV liquidation of and to require the posting of a CV cash deposit or bond on all imports of the subject merchandise from Korea. Companies may still be subject to AD suspension of liquidation and cash deposit/bond requirements. See ITT's Online Archives 12032340 for summary of this case's companion AD final determination.)
CV Suspension of Liquidation and Cash/Bond Requirements
The ITA will instruct CBP to suspend liquidation of imports of subject merchandise from Korea that are entered, or withdrawn from warehouse, for consumption on or after March 26, 2012, and require the posting of a cash deposit or bond equal to the following CV rates1:
| Company | CV Rate |
|---|---|
| Daewoo Electronics Corporation | 12.90% |
| LG Electronics Inc. | de minimis1 |
| Samsung Electronics Co., Ltd. / Samsung Gwangju Electronics Co., Ltd. | 2.46% |
| “All-Others” | 2.79% |
1The ITA will not direct CBP to suspend liquidation of and require the posting of a cash deposit or bond on all imports of the subject merchandise produced and exported by LG Electronics, because LG’s rate is de minimis (0.3%).
(The period of investigation is 01/01/10 through 12/31/11. See the ITA’s notice for more information, including the scope of the investigation (unchanged since the preliminary determination), detailed instructions on cash deposit and assessment rates, changes since the preliminary determination, etc. See ITT’s Online Archives 11083111 for summary of the negative CV preliminary determination of this investigation.)
(See ITT's Online Archives 12032036 for summary of ITA fact sheet announcing final AD & CV determinations for Korea fridge-freezers, as well as the final AD determination for Mexico fridge-freezers.)
ITA Contact - Myrna Lobo (202) 482-2371
(FR Pub 03/26/11, A-580-866)