US sets almost 300% import duty on Indian steel pipes

Washington: The US Commerce Department on Tuesday set a preliminary import duty of nearly 286 percent on a certain type of steel pipe from India to offset government subsidies and a duty of slightly more than 8 percent on the same product from Vietnam.

It declined to set preliminary duties on imports from Oman and the United Arab Emirates, saying it found little or no subsidies for steel pipe producers in those countries.

The decision is a mixed victory for US companies Allied Tube and Conduit, JMC Steel Group, Wheatland Tube and United States Steel Corporation, which filed a petition last year asking for import relief.

 US sets almost 300% import duty on Indian steel pipes

Reuters

Importers of circular welded carbon-quality steel pipe from India and Vietnam will have to post bonds or cash deposits based on the preliminary duty rates while the Commerce Department continues its investigation.

A final decision on duty rates is expected in August.

The United States imported about $64.5 million of the steel pipe from India and $50.1 million from Vietnam. It imported $28.1 million from Oman and $53.9 million from the UAE.

Reuters

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Updated Date: Dec 20, 2014 07:20:17 IST