Market Chatter: US Lawmakers Call for Probe on Anker Innovations Over Tariff Evasion

MT Newswires Live09-22

Lawmakers in the US are calling on Commerce Secretary Howard Lutnick to investigate Anker Innovations Technology (SHE:300866) for alleged illegal evasion of US tariffs, as well as unfair pricing, Bloomberg News reported Monday, citing a letter from the House Select Committee on China.

The Chinese electronic accessories manufacturer was accused of evading the tariffs through the misclassification of product codes and the illegal routing of products through countries in South Asia, the report said.

The committee members also accused the company of having "unfair access" in the US market because of a government grant worth $12 million, the report said.

In an emailed message to Bloomberg, Anker said it has started an "internal review procedure" and will have a "US adviser to assist in checking facts and evaluating relevant compliance issues," the report said.

Anker' shares dropped 8% at the close of the trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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