The US has decided to impose anti-dumping duties on South Korean oil pipelines of up to 15 percent.

According to the Korea International Trade Association on Sunday, the US Department of Commerce recently made a final ruling at an annual review of anti-dumping duties on Korea oil pipelines to levy tariffs between 9.33 percent and 15.07 percent.

Compared to last year’s figure, which stood at 22.7 percent to 38.87 percent, the tariffs have been slashed by more than half. The US Department of Commerce adjusts anti-dumping tariffs annually.

By company, the tariff on pipelines from Nexteel comes to 15.07 percent, while for products made by SeAH Steel it reaches 9.33 percent. For products made by the remaining 30 companies, the tariff stands at 11.6 percent.

The tariff cut came after the Court of International Trade in January ordered Washington to readjust its earlier duties, following complaints from Korean steelmakers.

To justify earlier duties, the US Department of Commerce cited “particular market situation” regulations, which allow for high tariff rates on goods from countries where export prices are believed to have deviated from those of the domestic market.

Korean pipeline exports to the US were valued at $350 million in 2018.

Kim Byung-wook (kbw@heraldcorp.com)