Trade Cases
Commerce Raises Antidumping Duties on Korean OCTG
Written by Sandy Williams
April 13, 2017
Antidumping duties on oil and gas drilling pipes from South Korea were increased on Tuesday after an administrative review by Commerce. Duties were raise to a range of 2.76 – 24.92 percent from previously assigned duties of 4 – 6.5 percent.
New provisions under the Trade Preferences Extension Act of 2015 allow Commerce to consider market situations in dumping investigations that include subsidization of raw materials used in the making of steel. Tuesday’s decision included evaluation of price distortion of hot rolled steel caused by electricity subsidies.
The announcement of by Secretary of Commerce Wilbur Ross is significant because it is the first time the Department has exercised its authority under Section 504 of the Act.
“There is fair and unfair trade, and the distinction is not very hard to make,” said Secretary Ross. “We will not stand for the distortions in foreign markets being used against U.S. businesses. The Trump Administration will continue to employ all of the tools provided under the law to take swift action against harmful trade practices from foreign nations attempting to take advantage of our markets, workers, and businesses.”
During the period covered by the administrative review (July 2014 to August 2015), OCTG imports from Korea were valued at an estimated $1.1 billion, said Commerce, accounting for nearly 25 percent of all U.S. imports of OCTG.
The revised antidumping duties will be 24.92 percent on OCTG imports from Nexteel, 2.76 percent on SeAH Steel and 13.84 percent on Hyundai Steel and other South Korean steelmakers.
Sandy Williams
Read more from Sandy WilliamsLatest in Trade Cases
Bessent on Vietnam: 20% tariff stands, Section 232 protections apply
US Treasury Secretary Scott Bessent told reporters that tariffs for Vietnamese imports to the US are 20% and "specific industries" have trade protections under the Section 232 tariffs.
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Canada moves to curb steel imports with TRQs
Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.
Commerce launches probe into unfairly traded rebar imports
Here are the details and a case timeline for the rebar trade case recently initiated by the Commerce Department.
Leibowitz on Trade: Who is winning the tariff debate?
Most economists will tell you that universal tariffs will result in inflation and reduce demand, causing a recession or worse. (After all, this is what happened in the 1930s). It is a rare product that is so essential that demand will not go down if prices go up.