Chip Maker Hynix Hit With 45% Import Duty
From Reuters
The United States slapped a final import duty of nearly 45% on South Korean memory-chip maker Hynix Semiconductor Inc. to offset alleged subsidies by Seoul, the Commerce Department said.
Financially troubled Hynix could escape the duties if the International Trade Commission determines that the U.S. petitioner for the action, Micron Technology Inc., has not been hurt by subsidized competition from South Korea.
Shares of Micron Technology fell 14 cents, or 1.1%, to close at $13.05, on the New York Stock Exchange.
From Reuters
