Reuters | Feb 13, 2018 10:20
WASHINGTON, Feb 13 (Reuters) - The United States is investigating whether manufacturers in Canada, China, Greece, India, Korea and Turkey are dumping large-diameter welded pipe into U.S. markets or are being unfairly subsidized by their governments, the Commerce Department said on Tuesday.
If the government makes a preliminary finding by March 5 that dumping or unfair subsidies are taking place it will begin collecting cash deposits from U.S. companies importing the pipe, the department said.
The probe covers welded carbon and alloy steel pipe larger than 16 inches (406.4 mm) in diameter. The pipe is generally used to transport oil, natural gas, slurry and steam and for piling, the department said.
The U.S. investigations, part of the 94 cases President Donald Trump's administration has opened since taking office, are aimed at protecting U.S. manufacturers in global markets, Commerce Secretary Wilbur Ross said in a statement.
The Commerce Department estimated that in 2016 imports of large-diameter welded pipe from Canada had a value of $66 million, China $139 million, India $26 million, Greece $70 million, Korea $150.3 million, and Turkey $116.1 million.
"Dumping" is the practice of selling goods at below market price.
Written By: Reuters
Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading in financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn't bear any responsibility for any trading losses you might incur as a result of using this data.