ITC FINDS CHINA STEEL OCTG PRODUCTS “DUMPED”

The commissioners found the US domestic industry had been injured, with all six commissioners voting that injury had occurred as a result of the flood of imports of chinese subsidized steel tubes.

The US International Trade Commission (ITC)  announced today its final determination in favor of the domestic steel industry over the Chinese industry in the $2.7 billion countervailing (anti-subsidy) investigation on Chinese Oil Country Tubular Goods. The commissioners found the US domestic industry had been injured, with all six commissioners voting that injury had occurred as a result of the flood of imports of chinese subsidized steel tubes. (6-0)

As a result of this finding, the combined anti-dumping and anti-subsidy tariffs on OCTG (oil pipe) now will range from 10-99%, meaning these tariffs will be prohibitive to the high-cost Chinese steel pipe makers. The tariffs in this case are determined in order to offset damage caused by illegal subsidies and dumping.

This was, to our knowledge the largest steel related case handled by the ITC, and the unanimous decision will certainly add to the strains between mercantilist China and the United States.

More  Chinese Steel trade cases are, pardon the pun, “in the pipeline.”

Dow Jones Newswire Report.

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