WASHINGTON -- The US Commerce Department decided Tuesday to impose antidumping tariffs up to nearly 25 percent on oil country tubular goods imported from South Korean steelmakers.
The department announced that it will levy 24.92 percent tariffs on OCTG imports from Nexteel, 2.76 percent on SeAH Steel and 13.84 percent on Hyundai Steel and other South Korean steelmakers.
The final rates to be be applied to product are higher than the preliminary tariffs determined in October and are roughly on par with what was leveled on South Korean OCTGs during the middle of 2014.
The latest move comes after Peter Navarro, the director of the White House National Trade Council, officially asked the Commerce Department to raise antidumping tariffs on South Korean goods last month.
The NTC head at the time cited a "particular market situation" as the reason for adjusting tarriff margins for imports. (Yonhap)