S. Korea considers action against U.S. antidumping duties on steel pipes

26/08/2014 12:00 - 493 Views

SEJONG, Aug. 23 (Yonhap) -- South Korea said Sunday it will consider countermeasures, possibly including a legal suit, against Washington's antidumping duties imposed on its steel pipe products shipped to the U.S. market.

"Regarding the U.S. government's decision, the government has concerns over a possible expansion of U.S. restrictions on imports, as well as the impact it will have on exports of local companies to the United States," the Ministry of Trade, Industry and Energy said in a press release.

On Saturday, the U.S. International Trade Commission endorsed an earlier decision by the U.S. Department of Commerce that imports of oil country tubular goods (OCTG) from South Korea and five other countries, including India and Ukraine, were harming the concerned U.S. industry.

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

The South Korean ministry said 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 U.S. Court of International trade.

Another option will be for South Korea to file a complaint with the World Trade Organization, Deputy Trade Minister Choi Kyong-lim has said.

In 2012, South Korea's OCTG exports to the U.S. came to about US$830 million.

Source: Yonhap