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  • Secretary Pompeo Meets with Chairman Kim in Pyongyang, Democratic People's Republic of Korea

    Secretary Pompeo Meets with Chairman Kim in Pyongyang, Democratic People's Republic of Korea


    Secretary of State Michael R. Pompeo held productive discussions with Chairman Kim Jong-un in Pyongyang Sunday




    Washington, DC - - (October 7, 2018) - - U.S. State Department Spokesperson Heather Nauert provided the following information:‎

    Secretary of State Michael R. Pompeo held productive discussions with Chairman Kim Jong-un in Pyongyang Sunday. They discussed the four elements contained in the U.S.-DPRK Singapore Summit Joint Statement signed by President Trump and Chairman Kim. They also discussed the upcoming second summit between President Trump and Chairman Kim and refined options for the location and date of that next summit.

    Secretary Pompeo was joined by Special Representative Stephen E. Biegun and Chairman Kim was joined by Kim Yo-jong, First Vice Director of the Korean Workers’ Party Central Committee.

    Secretary Pompeo and Chairman Kim also agreed to instruct their respective working-level teams to meet soon to intensify discussions on the key remaining issues to deliver on the Singapore Summit Joint Statement.

    In addition, Chairman Kim invited inspectors to visit the Punggye Ri nuclear test site to confirm that it has been irreversibly dismantled.

    President Trump looks forward to continuing to build upon the trust established with Chairman Kim in Singapore and anticipates meeting again soon.






    Credit: U.S. Department of State...
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  • Commerce Issues Affirmative Preliminary Antidumping Duty Determinations on Polyethylene Terephthalate Resin

    U.S. Department of Commerce Issues Affirmative Preliminary Antidumping Duty Determinations on Polyethylene Terephthalate Resin from Brazil, Indonesia, Korea, Pakistan and Taiwan



    (May 1, 2018) - - Today, U.S. Secretary of Commerce Wilbur Ross announced the affirmative preliminary determinations in the antidumping duty (AD) investigations of imports of polyethylene terephthalate (PET) resin from Brazil, the Republic of Indonesia (Indonesia), the Republic of Korea (Korea), Pakistan, and Taiwan.

    “The Department will use every tool at our disposal to defend U.S. industry against unfair trade practices,” said Secretary Ross. “Today’s decision allows U.S. producers of PET resin to receive relief from the market-distorting effects of potential dumping while the open and transparent process of investigating this matter continues.”

    Commerce preliminarily determined that exporters from Brazil, Indonesia, Korea, Pakistan, and Taiwan have sold PET resin in the United States at less than fair value at the following preliminary dumping rates:
    • Brazil – 24.09 percent to 226.91 percent;
    • Indonesia – 13.16 percent;
    • Korea – 8.81 percent to 101.41 percent;
    • Pakistan – 7.75 percent;
    • Taiwan – 9.02 percent to 11.89 percent.
    As a result of today’s decision, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits from importers of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan based on these preliminary rates.

    In 2016, imports of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan were valued at an estimated $51.7 million, $35.7 million, $24 million, $34.1 million, and $109.8 million, respectively.

    The petitioners are DAK Americas, LLC (Charlotte, NC), Indorama Ventures USA, Inc. (Decatur, AL), M&G Polymers USA, LLC (Houston, TX), and Nan Ya Plastics Corporation, America (Lake City, SC). Indorama Ventures USA, Inc. is not a petitioner with respect to the Indonesia investigation.

    Enforcement of U.S. trade law is a prime focus of the Trump administration. Commerce has initiated 112 new antidumping and countervailing duty investigations since the beginning of the Trump administration. This is 75 percent more than the 64 initiations in the last 465 days of the previous administration.

    The AD law provides U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair pricing of imports into the United States. Commerce currently maintains 432 antidumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade.

    Commerce is scheduled to announce the final determinations in these investigations on or about September 17, 2018. If Commerce makes affirmative final determinations of dumping and the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, Commerce will issue AD orders. If Commerce makes negative final determinations of dumping or the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.

    Click HERE for a fact sheet on today’s decisions.

    Commerce’s Enforcement and Compliance unit within the International Trade Administration is responsible for vigorously enforcing U.S. trade laws and does so through an impartial, transparent process that abides by international law and is based solely on factual evidence.

    Foreign companies that price their products in the U.S. market below the cost of production or below prices in their home markets are subject to antidumping duties.
    ...
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  • G7 Finance Ministers Joint Statement on North Korea

    G7 Finance Ministers Joint Statement on North Korea

    G7 Finance Ministers Joint Statement on North Korea





    (April 18, 2018) - - North Korea’s continued development of weapons of mass destruction (WMD) and ballistic missile programs poses a grave threat to international peace and security. We remain committed to the complete, verifiable, and irreversible denuclearization of the Korean peninsula and dismantlement of North Korea’s WMD and ballistic missile programs, but North Korea must match its words with concrete actions. To support this goal, we will continue to take action to impose maximum economic pressure on North Korea, in keeping with relevant United Nations Security Council Resolutions (UNSCRs).

    We are concerned by North Korea’s evasion of international sanctions and its continued ability to access the international financial system. North Korea does little business in its own true name and uses a network of agents, front and shell companies, and complex ownership structures to access the international financial system.

    As the UN Panel of Experts (PoE) noted in its March 2018 report, in 2017, more than 30 representatives of North Korean banks have been operating outside of North Korea, in contravention of UNSCRs. The PoE also noted that DPRK trade representatives continue to play a role in the country’s prohibited programs, including by acting as fronts for designated entities and individuals, as well as engaging in commercial activities that violate the UNSCRs. We call on all countries to fully and effectively implement their UNSCR obligations with respect to North Korea and, in this regard, to expeditiously expel these bank and trade representatives in accordance with their UN obligations.

    Financial institutions in G7 countries also play an important role in the fight against North Korea’s illicit global financial activity, and we will engage and share information with them, as appropriate, to expose North Korea’s deceptive financial practices and thereby protect the integrity of the international financial system. We call on countries to similarly engage their financial institutions so they will be on alert and take steps to implement necessary additional scrutiny to ensure that they are not processing transactions on behalf of sanctioned North Korean entities.
    ...
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  • U.S. Department of the Treasury Secretary Steven Mnuchin Participates in Call with Republic of Korea Deputy Prime Minister and Minister of Strategy and Finance Yoo Il-ho

    U.S. Department of the Treasury Secretary Steven Mnuchin Participates in Call with Republic of Korea Deputy Prime Minister and Minister of Strategy and Finance Yoo Il-ho




    March 3, 2017


    Washington, DC - - (March 2, 2017) - - U.S. Secretary of the Treasury Steven Mnuchin spoke by phone last night with Republic of Korea Deputy Prime Minister and Minister of Strategy and Finance Yoo Il-ho.

    Secretary Mnuchin underscored that he looked forward to working with Deputy Prime Minister Yoo both bilaterally and multilaterally on a comprehensive set of economic issues that will benefit both the United States and the Republic of Korea as well as the global economy. He also expressed the importance of continuing a strong partnership with the Republic of Korea on North Korean sanctions and illicit finance issues.



    Information source: U.S. Department of the Treasury...
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  • U.S.-Japan-Republic of Korea Trilateral Meeting Planned for Washington D.C.

    U.S.-Japan-Republic of Korea Trilateral Meeting Planned for Washington D.C.





    Washington, DC - - (February 23, 2017) - - The U.S. State Department has announced a February 27, 2017 planned meeting between representatives of the USA, Japan and the Republic of Korea.


    Parties participating in the meetings


    Representing the USA:
    U.S. Special Representative for North Korea Policy Joseph Yun

    Representing Japan:
    Japanese Ministry of Foreign Affairs Director General for Asian and Oceanian Affairs Kenji Kanasugi

    Representing Republic of Korea (ROK):
    Republic of Korea (ROK) Special Representative for Korean Peninsula Peace and Security Affairs Kim Hong-kyun


    Meeting host and discussion plans:

    U.S. Special Representative for North Korea Policy Joseph Yun will host a trilateral meeting in Washington, February 27, with Japanese Ministry of Foreign Affairs Director General for Asian and Oceanian Affairs Kenji Kanasugi and Republic of Korea (ROK) Special Representative for Korean Peninsula Peace and Security Affairs Kim Hong-kyun.

    The three plan to discuss the situation in North Korea as a follow up to the trilateral U.S.-Japan-ROK Foreign Ministerial meeting held earlier this month in Bonn.

    Special Representative Yun will also hold bilateral meetings with both Director General Kanasugi and Special Representative Kim.



    Information source: U.S. Department of State...
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