| Date: |
28-03-2012 |
| Subject: |
US sets import duties on India, Vietnam steel pipe |
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The US Commerce Department on Tuesday set a preliminary import duty of nearly 286% on a certain type of steel pipe from India to offset government subsidies and a duty of slightly more than 8% 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.
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 USD 64.5 million of the steel pipe from India and USD 50.1 million from Vietnam. It imported USD 28.1 million from Oman and USD 53.9 million from the UAE.
Source : moneycontrol.com
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