The JoongAng Ilbo is bitching—again—about foreign protectionism:
Last week, the U.S. International Trade Commission (ITC) approved antidumping duties and countervailing duties on three Korean washing machine makers, accusing them of denting the profitability of American companies.
The ITC’s decision epitomizes the growing trend of protectionism in international trade amid the drawn-out global economic slowdown.
Korea, as suggested by the latest U.S. case, has become a bigger target for countries afraid of growing trade competition since it emerged as the world’s seventh-largest exporter.
Actually, what the commission accused them of was selling large washing machines at “less than the cost of producing them or for less than the price of the washers in the foreign manufacturers’ home markets.”