US sets duties on oil country tubular goods from 7 countries

The US government has imposed duties on steel pipe imports from South Korea, India, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, and Vietnam. The Commerce Department said it found dumping that damaged competition in the United States.

Although the investigation found that pipes from Ukraine were also sold in the United States at below cost, they will not be taxed due to the current trade agreement.

The Commerce Department has set taxes from 9.89% to 15.75% on Korean pipes. Duties ranging from 2.05% to 118.32% were also imposed on the pipes of manufacturers from other countries. Taxes must be paid immediately on imports, although they may be refunded if the US International Trade Commission determines that US manufacturers are not affected by the imports.

US OCTG manufacturers and unions have complained about countries that have flooded the US market with products at unfair prices. Since July 2013, US steelmakers have been awaiting a decision by the US Department of Commerce. They argue that US producers are squeezing out dumped imports from South Korea and elsewhere, preventing American workers from taking advantage of America's energy boom.

In the United States, OCTG imports doubled from 850 thousand tons in 2010 to 1.8 million tons in 2012, an increase of 113%. Dumping imports of OCTG from South Korea account for half of this amount. Foreign imports often sell hundreds of dollars a ton less than domestic OCTG products. Operating profit for the industry declined from 13.6% to 9.8%.