The U.S. Department of Commerce has decided to slap up to 48 percent tariffs on South Korean cold-drawn mechanical tubing.
The department announced on Tuesday that following antidumping duty investigations, it decided to apply antidumping tariffs on imports of cold-drawn mechanical tubing from South Korea, China, Germany, India, Italy and Switzerland.
With the decision, South Korean firms, Sang Shin and Yulchon, will face 48 percent of such tariffs while other Korean companies will be slapped with duties of 30-point-67 percent.
The figures for Yulchon and other Korean companies are far higher than the five-point-one percent tariffs the department had tentatively decided last November.
The other five countries will be applied with tariffs of between three to 209 percent.
The tariffs will be applied from the end of May if the U.S. International Trade Commission rules around May 24th that U.S. industries are suffering losses because the six countries’ exporting cold-drawn mechanical tubing have sold the products below fair value.