[Photo] US CIT puts brakes on Trump’s tariffs on South Korean steel

The US Court of International Trade (CIT) has put the brakes on Trump’s anti-dumping measures for South Korean steel. The US Department of Commerce has imposed 76% anti-dumping tariff on oil country tubular goods from South Korea, which was expected to greatly deter Korean exports of steel pipes to the US. The US Department of Commerce attempted to apply the Particular Market Situation (PMS), to impose high tariffs on South Korean steel. The CIT, however, has ordered a reversal of the PMS determination and a recalculation of the Commerce Department’s anti-dumping duty rates. (provided by Hyundai Steel)