The United States is set to levy huge anti-dumping duties on South Korean oil pipelines.
The Commerce Department's preliminary decision on the annual review procedure of South Korean pipes was disclosed late last week.
It imposes duties of 59 and 41-point-five percent on South Korea's NEXTEEL and Hyundai Steel, respectively.
It represents an over three-fold increase from duties previously levied on Korean oil pipelines.
The Commerce Department said there's a (quote) "particular market situation" in South Korea that affects the production costs of oil pipelines.