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Japan to punish dumpers

Japan said yesterday it will charge South Korean and Taiwan companies with anti-dumping duties of up to 13.5 percent and 10.3 percent respectively for exporting polyester staple fiber at unfairly low prices.

Twenty-six South Korean and 13 Taiwan firms will be subject to the duties, according to the Ministry of Economy, Trade and Industry.

The ministry, together with the Finance Ministry, made the decision following a joint probe of the South Korean and Taiwan firms that began in April last year.

It is the first time since August 1995 that Tokyo imposes such punitive tariffs when it levied anti-dumping duties on cotton yarn from Pakistan.

Under WTO rules countries are permitted to impose anti-dumping duties for up to five years if they find import prices are set unfairly lower than local prices.

The Japanese manufacturers said the price of their polyester staple fiber fell 13 percent from fiscal 1997 through 1999 and their sales slipped 8 percent.

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