Whirlpool filed a safeguard petition earlier this year to stop Samsung and LG from repeated "country hopping", or moving production centers to evade USA trade laws.
"They have cheated domestic producers before. This is our last chance to get it right", Whirlpool attorney Jack Levy told the U.S. International Trade Commission.
Whirlpool and GE Appliances, bought a year ago by China's Haier Group, are also seeking import quotas on key components such as washer cabinets, tubs and basket assemblies to prevent Samsung and LG from opening USA "kitting", or "screwdriver" operations that simply assemble machines largely from imported parts.
The request follows an October 5 ruling by the ITC that a surge of large residential washer imports from South Korean companies Samsung and LG have seriously injured American manufacturers and workers.
Whirlpool attorney Jack Levy told the ITC that "a strong remedy would force the South Korean manufacturers to 'country hop one more time, to America, ' where they would compete more fairly and strengthen the USA manufacturing base", Reuters reports.
Based on Thursday's argument, the ITC is to vote on what remedy to impose on November 21 and make its written recommendation to President Donald Trump by December 4.
Daniel Porter, an attorney representing LG, said a 50 percent duty would severely hurt LG and Samsung by shutting their imports out of the USA market until they start US production in 2019.
Cardinal Health Inc (CAH) Draws Bearish Attention After Forming Double Bottom
Piedmont Investment Advisors LLC's holdings in Cardinal Health were worth $469,000 at the end of the most recent reporting period. Rhenman & Partners Asset Management Ab increased Nevro Corp stake by 42,504 shares to 155,118 valued at $11.55 million in 2017Q2.
Samsung and LG's combined share of the washing machine market in the USA rose to 31 percent in the first half of this year from 23 percent in 2014, while Whirlpool's share dropped to 37 percent from 41 percent during the same period, according to the U.S. market research company TraQline.
Samsung is now building a factory in Newberry, South Carolina, and LG is building one in Clarksville, Tennessee.
Porter said these factories would likely employ fewer workers if import restrictions kept Samsung and LG washers out of the USA market for a year.
"Whirlpool's 50 percent proposal is nothing short of raw, naked protectionism to allow Whirlpool to reach a cash windfall for a year or two", Porter told the panel.
Both sides brought out members of Congress representing their plant locations to help argue their cases.
Congressman Ralph Norman of SC said, "I am concerned that restrictive measures (on Samsung) will have a negative impact on new investments in United States large residential washing machine production".
- $0.56 EPS Expected for Alliance Resource Partners, LP (ARLP)
- Arnold W. Donald Sells 90903 Shares of Carnival Corporation (CCL) Stock
- Valverde: I hope Messi scores 200th European goal this season
- Celgene Corporation (CELG) - UBS Holds Rating And Sets New Price Target
- Putin calls on Americans to respect Trump
- Montrusco Bolton Investments Inc. Has $10.24 Million Position in Shopify Inc. (SHOP)
- US Census Bureau and HUD Report Housing Stats
- Tesla Inc. (NASDAQ:TSLA) Receives Buy Rating from Guggenheim
- Jones Lang LaSalle Incorporated (NYSE:JLL) Short Interest Down -19.86% - Shares Trading Up
- Embiid set to miss Raptors game on Saturday