The U.S. International Trade Commission approved on August 22nd imposing tariffs on imports of steel pipe from South Korea and five other countries, providing relief to U.S. Steel and other domestic producers.
U.S. steelmakers filed a complaint in July 2013 against nine countries that were importing tubular products used by the energy industry, claiming the steel was being sold here at below-market prices or subsidized by foreign governments.
The ITC agreed that was the case with imports from South Korea, India, Taiwan, Turkey, Ukraine and Vietnam. Imports from the Philippines and Thailand were exempted. The ITC recently dropped the ninth country targeted, Saudi Arabia, from the complaint.
“We still consider this a resounding victory for U.S. steel producers,” said Philip Bell, president of the Steel Manufacturers Association.
Mr. Bell said the wave of unfair imports has prevented U.S. steelmakers from capitalizing on massive investments they made in response to booming domestic production of oil and natural gas. Imports of the so-called oil country tubular goods have captured about half of the U.S. market, according to the American Iron and Steel Institute, another industry group.