The U.S. government will lower punitive tariffs imposed on oil country tubular goods imports from South Korea by as much as nine-point-83 percentage points compared with the initial determination.
 
The Trade Ministry said Monday that the U.S. Commerce Department made the decision at a redeliberation.
 
By corporation, punitive tariffs imposed on Hyundai Steel will fall from 15-point-75 percent to five-point-92 percent. Tariffs for SeAh Steel will decrease from 12-point-82 percent to three-point-eight percent and from nine-point-89 percent to eight-point-zero-four percent for Nexteel.
 
If the decision is maintained at a final meeting scheduled for April, South Korean steel makers are each expected to receive a refund in tariffs of six million to 19 million dollars. Together, the total refund is expected to amount to 66 million dollars.
 
The United States imposed antidumping duties on steel pipe imports from South Korea in July 2014 that was substantially higher than the zero percent levied at the preliminary determination.
 
Oil country tubular goods are pipe and tube products used in the oil industry, such as drill pipe, pipe casing and oil pipes.