South Korea seeks talks with United States to withdraw levies

South Korea seeks talks with United States to withdraw levies

In this regard, the minister of Trade, Kim Hyun.chong, said the measure is excessive and is apparently a violation of the WTO regulations, details news agency Yonhap.

The measures include a 20-percent tariff on the first one-point-two million units of imported large residential washing machines, including those produced by Samsung Electronics and LG Electronics, and a 50-percent tariff on units exceeding the quota.

Most of the US solar industry revolves around installing solar systems for homeowners and utilities, and those companies largely opposed the tariffs.

"We can move our supplies to other markets now, instead of focusing on the USA market like in the past", the official said.

During a meeting with industry officials, he added that the US government took actions having in mind its internal policy situation, instead of following global regulations.

More news: 'Super Blue Blood Moon' to occur next week

An exponential decline in solar panel prices has driven a rapid expansion of solar power in the United States, where it is the fastest-growing source of electricity.

On imports of solar cells in excess of two-point-five gigawatts, the USA will impose a 30-percent tariff in the first year and 25 percent and 20 percent in the second and third years, respectively.

The Energy Department said Wednesday that the American Made Solar Prize would help "reassert American leadership in the solar marketplace".

To understand why President Donald Trump slapped a global tariff on washing machine imports rather than singling out offending countries, it helps to follow the years-long cat-and-mouse game between US officials and South Korean manufacturers LG Electronics and Samsung Electronics.

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