CORRECTED-Latest U.S. trade probe targets welded pipe -Commerce Department

CORRECTED-Latest U.S. trade probe targets welded pipe -Commerce Department

Reuters  | Mar 06, 2018 11:51

CORRECTED-Latest U.S. trade probe targets welded pipe -Commerce Department

(In Feb 13 item, removes incorrect date from paragraph 2)

WASHINGTON, Feb 13 (Reuters) - The United States isinvestigating whether manufacturers in Canada, China, Greece,India, Korea and Turkey are dumping large-diameter welded pipeinto U.S. markets or are being unfairly subsidized by theirgovernments, the Commerce Department said on Tuesday.

If the government makes a preliminary finding that dumpingor unfair subsidies are taking place it will begin collectingcash deposits from U.S. companies importing the pipe, thedepartment said.

The probe covers welded carbon and alloy steel pipe largerthan 16 inches (406.4 mm) in diameter. The pipe is generallyused to transport oil, natural gas, slurry and steam and forpiling, the department said.

The U.S. investigations, part of the 94 cases PresidentDonald 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 oflarge-diameter welded pipe from Canada had a value of $66million, China $139 million, India $26 million, Greece $70million, Korea $150.3 million, and Turkey $116.1 million.

"Dumping" is the practice of selling goods at below marketprice.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Australia) English (South Africa) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes