ITC rules to continue duties on Chinese pipe products
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ITC rules to continue duties on Chinese pipe products

Date:2015-05-08      Views:618Time(s)      Label:ITC rules to continue duties on Chinese pipe products    

Chinese pipe products imported into the U.S. will continue to be hit with hefty duties. In a unanimous 6-0 ruling Wednesday, the U.S. International Trade Commission ruled to continue duties on oil country tubular goods. In a 2010 ruling, the ITC said that these goods were unfairly subsidized by the Chinese government, a practice that hurt American producers and cost hundreds of workers their jobs. 

Wheatland Tube Co. was among the American producers seeking the duties.In its initial ruling 2010 the ITC imposed the anti-dumping duties between 30 to 99 percent on the products. Dumping means a company sold a product below the price it cost to produce.

While the ruling will continue helping American pipe producers, it comes at a time when the oil and natural gas industry has sharply cut back on drilling new wells. The drilling cutbacks come amid relatively low prices for oil and natural gas as supplies have been plentiful.

The trade case affected $1.1 billion in annual imports and has been called the largest American victory of its kind against Chinese imports.

In addition to Wheatland Tube, other companies that were part of the complaint were: V&M Star in Youngstown along with Maverick Tube Corp., U.S. Steel, TMK IPSCO and Evraz Rocky Mountain Steel.

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