Feeds

Europe slaps 33% duty on Hynix DRAM imports

Sets level of punitive levy

  • alert
  • submit to reddit

The European Commission has imposed a 33 per cent import duty on Hynix DRAM products, Dow Jones reports.

The move comes as no surprise. The EC ruled last month that Hynix had received illegal government aid in the form of loans provided by banks owned or part-owned by the South Korean government.

Such aid, which the EC believes allowed Hynix to sell DRAM into Europe for less than it cost to produce, is forbidden by World Trade Organisation rules. As a penalty, the EC said it would impose a tariff of 30-35 per cent on Hynix DRAM imports.

This decision pre-dates a similar tariff, of 57.37 per cent, which the US Department of Commerce said it intends to impose this summer for the same reason.

Both rulings followed investigations into complaints made by Infineon in Europe and Micron in the US. Memory makers in Taiwan and Japan are believed to be pursuing the imposition of comparable tariffs with their own trade regulators. ®

Related Stories

Europe judges Hynix rescue funding illegal
US hits Hynix with 57 per cent import duty

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.