Washington slaps whopping duties on Russian pipe imports

Washington slaps whopping duties on Russian pipe imports

The US Department of Commerce has introduced import duties of more than 200% on several types of steel pipes from Russia, according to a statement published in the US government’s Federal Register.

The measure targets imports of seamless carbon and alloy steel standard, line and pressure pipe (seamless pipe) from Russia, South Korea and Ukraine.

Imports of Russian pipes are now subject to a tax of 209.72%. Meanwhile, the duties imposed on Korean pipes total 4.44%, adjusted for compensation for export subsidies. The import levy on Ukrainian pipes is fixed at 23.75%.

Also on rt.com
US looks to revoke Russia’s status as market economy

The US authorities announced plans to tax the imports of some steel pipes earlier this month. The decision came after the American International Trade Commission (ITC) determined that American producers were suffering losses due to the imports of pipes at prices that are reportedly “below fair.”

Imports of seamless pipes from Russia, Ukraine and South Korea “are materially injuring a US industry,” the statement says, citing the ITC.

The latest measure targets Russian enterprises such as Pipe Metallurgical Company and Volzhsky Pipe Plant, as well as their cross-owned plants, Seoul-based ILJIN Steel and Ukrainian Interpipe Group.

Last year, Russian exports of pipes made of iron and its alloys to the US totaled $41 million with exports in the first five months of 2021 amounting to $21 million, according to data tracked by the US Census Bureau. Ukrainian pipe exports reportedly totaled $52 million in 2020.

For more stories on economy & finance visit RT's business section


Post a Comment (0)
Previous Post Next Post