USITC approves antidumping duties on Korean steel pipe products

WASHINGTON, Aug. 22 (Yonhap) -- The U.S. trade watchdog on Friday endorsed antidumping duties on steel pipe imports from South Korea and five other countries, a decision expected to deal a blow to the Korean industry, heavily dependent on the U.S. market.

The U.S. International Trade Commission (USITC) voted that imports of oil country tubular goods (OCTG) from South Korea, India, Taiwan, Turkey, Ukraine and Vietnam are harming the domestic industry. OCTG are pipe and tube products used in the oil industry, such as drill pipe, pipe casing, and oil pipes.

The decision is a blow to the Korean OCTG industry because nearly all of its products, 98.5 percent, are exported to the U.S. market. As of 2012, Korean OCTG exports to the U.S. totaled 780,000 tons worth US$830 million.

Friday's decision came after the U.S. Department of Commerce decided last month to impose antidumping duties ranging between 9.89 percent and up to 15.75 percent against South Korean OCTG products, saying they are imported at below-market prices.

The case began last year when U.S. steelmakers filed a complaint against Korea and other countries.

"One way of appealing the decisions of the USITC and the U.S. Department of Commerce is for related Korean companies to file a suit with the U.S. Court of International Trade. The other way is for the Korean government to bring the case to the World Trade Organization," a source in Washington said.

"My understanding is that they plan to take both actions," the source said.

jschang@yna.co.kr
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