Country tagged in US trade investigation

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WASHINGTON -- The US Commerce Department on Tuesday launched one of its biggest trade investigations in years into charges that manufacturers in South Korea, India and seven other countries are selling steel pipe used by oil and natural gas producers at unfairly low prices.

 

Imports of oil country tubular goods (OCTG) from the nine countries totaled nearly $1.8 billion in 2012, more than double their total in 2010, as rising US oil and natural gas production have increased demand for the pipe.

In 2010, the US slapped duties on China’s OCTG imports after they hit about $2.8 billion in 2008. That created an opening for other suppliers.

The latest case targets South Korea, which exported about $831 million worth of the pipe last year, as well as India, Vietnam, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey and Ukraine.
US producers are asking for anti-dumping duties as high as 240% on India, 158% on South Korea, 118% on Thailand and 111% on Vietnam to offset what they say is below market pricing, and lesser but still hefty duties on the other five countries. -- Reuters