According to the statement published in the US government’s Federal Register, import duties of more than 200% has been introduced by the US Department of Commerce on several types of steel pipes from Russia.
In line with the new duties, imports of Russian pipes are now subject to a tax of 209.72%, Ukrainian pipes’ import levy is fixed at 23.75% while the duties imposed on Korean pipes have been adjusted for compensation for export subsidies and now total 4.44%.
Department’s measure announced earlier this month targets imports of line and pressure pipe as well as seamless carbon and alloy steel standard from Russia, South Korea and Ukraine and came after American producers’ losses suffered due to the imports of pipes at below fair prices were noted by the American International Trade Commission (ITC).
The statement says, citing the ITC, that the new import duties target Russian enterprises such as Pipe Metallurgical Company and Volzhsky Pipe Plant as well as their cross-owned plants ILJIN Steel in Seoul and Ukrainian Interpipe Group.
According to the US Census Bureau’s data, Russian exports of iron and iron alloys pipes to the US in the first five months of 2021 amounted to $21 million with a total of $41 million in 2020, while the Ukrainian pipe exports totaled $52 million in 2020.