ITC Votes to Impose Penalties on Korean Companies Dumping Steel Products in U.S.

WASHINGTON DC - The International Trade Commission has voted to impose penalties on Korean Companies Dumping Steel Products Into the U.S.

After a major push from U.S. Senator Amy Klobuchar, the U.S. International Trade Commission (ITC) Friday voted to impose penalties on companies in Korea and five other countries that are dumping steel products into the United States and undercutting American industry.

In July, Klobuchar testified before the ITC to urge the agency to impose penalties on Korean firms to offset any gains they have achieved through illegal practices.

The ITC's ruling will impose antidumping duties on steel Oil Country Tubular Goods (OCTG) from South Korea, as well as India, Taiwan, Turkey, Ukraine, and Vietnam.

"This is a significant victory for hardworking miners in Minnesota and across the country, and I'm pleased that the ITC heeded our calls for action," Klobuchar said. "Through the generations, our miners on the Range have proven they can compete with anybody in the world when it comes to providing quality steel. These new penalties will help crack down on illegal trade practices and protect steelworker jobs, and I'll keep fighting to ensure that our businesses are competing on a level playing field."

Earlier this year, Klobuchar and a bipartisan coalition of Senators sent a letter to Commerce Secretary Penny Pritzker urging the agency to thoroughly investigate allegations of Korean companies dumping steel in the United States and to take action against any unfair foreign competition.

The letter came after the Department of Commerce initially determined that no dumping was occurring.

Following Klobuchar's action, last month the Department of Commerce determined that Korean companies are dumping steel Oil Country Tubular Goods into the United States and recommended that the ITC impose significant antidumping duties to help ensure the domestic industry can compete on a level playing field