The United States shaved anti-dumping duties on South Korean oil pipelines by more than half from the previous ruling.

In the finalized ruing, the U.S. Department of Commerce adjusted down anti-dumping tariffs from 4.23 percent to 9.24 percent on oil pipelines made by Korean steel makers, less than half of its previous highest rate at 18.77 percent in 2018, according to the industry sources and Korea International Trade Association on Tuesday

SeAH Steel’s products have been levied at the lowest 4.23 percent duty while Hyundai Steel at the highest 9.24 percent, with the rest of Korean manufacturers being imposed at 6.74 percent.

The commerce department had drastically raised anti-dumping levies on Korean oil pipelines in 2018 to 18.77 percent for Hyundai Steel, 14.39 percent for SeAH Steel and 16.58 percent for others, from 6.19 percent, 2.53 percent and 4.36 percent, respectively, in 2015.

The department cited “particular market situation (PMS)” for the sharp increase in 2018. The PMS provides a basis for the authorities to use its discretion when imposing tariffs, not to trust the cost documents submitted from the exporter.

Korean manufacturers had filed a complaint with the Court of International Trade (CIT) which ordered the commerce department in January to readjust the dumping margin.

Following the order, the department had cut the tariffs to 4.70 percent on SeAH Steel and 6.97 percent on others in February, but the CIT ordered recalculation once again so the rate declined further to 4.23 percent and 6.74 percent, respectively, in the latest ruling.

“It is almost unlikely for the anti-dumping duties to go down further, but the lowered rates would significantly ease burdens for domestic manufacturers,” an industry official said.

By Pulse

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