Hynix damaged US memory trade by billions of dollars

Dom · Jul 23, 2003, 10:17 PM

US CHIP FIRM Micron hailed the decision of the International Trade Commission's decision that unfair subsisdies by South Korea to Hynix cost the few American memory companies left "billions of dollars".

The ITC vote means that a punitive 44.29% tariff will be applied against all and any Hynix chip imports into the United States.

And the United States Treasury Department requires Hynix to place a bond before it will allow any chips from the South Korean memory firm to pass through its customs gates.

The estimate is that Hynix memory cost the US Dramurai billions of dollars because it was unfairly subsidised by the South Korean government.

In effect, the earlier decisions by both the United $tates and the €uropean Union succeeded in blockading heaps of Hynix memory descending into the grey channel and then into PCs.

Micron's CEO Steve Appleton claimed the ITC's actions had "reaffirmed that free trade must also be fair trade". He hailed the US' decision as a victory for his government's trade laws.

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Source: TheInquirer

Jul 23, 2003, 10:17 PM	#1
Dom DriverHeaven Extreme Member Join Date: Jun 2002 Posts: 12,940 Rep Power: 0	Hynix damaged US memory trade by billions of dollars US CHIP FIRM Micron hailed the decision of the International Trade Commission's decision that unfair subsisdies by South Korea to Hynix cost the few American memory companies left "billions of dollars". The ITC vote means that a punitive 44.29% tariff will be applied against all and any Hynix chip imports into the United States. And the United States Treasury Department requires Hynix to place a bond before it will allow any chips from the South Korean memory firm to pass through its customs gates. The estimate is that Hynix memory cost the US Dramurai billions of dollars because it was unfairly subsidised by the South Korean government. In effect, the earlier decisions by both the United $tates and the €uropean Union succeeded in blockading heaps of Hynix memory descending into the grey channel and then into PCs. Micron's CEO Steve Appleton claimed the ITC's actions had "reaffirmed that free trade must also be fair trade". He hailed the US' decision as a victory for his government's trade laws. _______________________ Source: TheInquirer