The U.S. International Trade Commission announced a preliminary finding that U.S. manufacturers of washing machines are being harmed by Samsung and LG imports from South Korea. Fred Katayama reports.
Whirpool shares rose after the U.S. International Trade Commission preliminarily ruled that U.S. manufacturers of washing machines were harmed by South Korean imports. Whirpool had asked the ITC to impose "global safeguard" restrictions on imported washing machines from South Korea's Samsung and LG. The U.S. appliance maker argued their Korean rivals flood the U.S. market with cheap washers. Reuters correspondent Tim Aeppel is covering the story. (SOUNDBITE) TIM AEPPEL, CORRESPONDENT, REUTERS (ENGLISH) SAYING: "This is part of a larger patterns of trade cases that the Trump administration has encouraged the administration to come up with, and this case, actually, pre-dates the Trump administration, Whirlpool has been fighting the South Koreans for five years, with anti-dumping cases, but the significance of the decision today is that this is a different kind of petition. It's a petition for safeguard, which is much more sweeping and would block imports by the South Koreans from any country." The commission will issue its recommendation by late November to U.S. President Donald Trump. Trump is expected to make a final decision by early next year.