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South Korea considers action against US antidumping duties on steel pipes

Yonhap reported that South Korea will consider countermeasures, possibly including a legal suit, against Washington's antidumping duties imposed on its steel pipe products shipped to the US market.

The Ministry of Trade, Industry and Energy said that regarding the US government's decision, the government has concerns over a possible expansion of US restrictions on imports, as well as the impact it will have on exports of local companies to the United States.

The US International Trade Commission endorsed an earlier decision by the US Department of Commerce that imports of oil country tubular goods from South Korea and five other countries, including India and Ukraine, were harming the concerned US industry.

The Commerce Department has said that it will impose punitive tariffs of up to 15.75% on OCTG imports, such as oil pipes and pipe casing, from South Korea.

The South Korean ministry said that it will come up with appropriate countermeasures based on legal reviews and close discussion with the local industry.

A ministry official earlier had said that such measures may include local manufacturers filing a legal complaint with the US Court of International trade.

Source - Yonhap