U.S. sets preliminary penalties on oil pipes from China

The U.S. Commerce Department on Thursday set preliminary anti-dumping duties (CVD) on imports of oil pipes from China, the biggest U.S. trade action against China.

The department said it "preliminarily determined that Chinese producers/exporters have sold OCTG (oil country tubular goods) in the United States at prices ranging from zero to 99.14 percent less than normal value."

As a result of this preliminary determination, a 36.53-percent levy will be imposed on the OCTG from 37 Chinese companies, while some other Chinese companies will receive a preliminary dumping rate of 99.14 percent.

They are in addition to the preliminary extra duties of 10.69 percent to 30.69 percent the Commerce Department announced in September for Chinese oil pipes, a move strongly opposed by China.

"China expressed strong dissatisfaction and is resolutely opposed to this," said China's Ministry of Commerce (MOC) spokesman Yao Jian in a statement in September.

Source:Xinhua