WTO's ruling on US anti-dumping duties on South Korean OTCG pipes confirmed

Seoul's trade ministry said that the World Trade Organization's ruling against the United States over the country slapping anti-dumping duties on steel pipes has been confirmed. In November of last year, the WTO dispute settlement panel sided with Seoul's claim that the US incorrectly applied the term same general category of products" in determining for OCTG products and didn't use the actual profit data. The ruling was confirmed as the US did not appeal within 60 days. In July 2014, the U.S. Commerce Department levied 9.9 percent to 15.8 percent anti-dumping duties on oil country tubular goods (OCTG) imports from South Korean steelmakers, such as Hyundai Steel, Nexteel, Seah Steel Corp. and Husteel. Five months later, South Korea submitted an appeal with the WTO against the tariff, arguing that the U.S. calculation of margins for Korean products was not reasonable when compared with the rate of global profit margins.