U.S. finds South Korea dumping oil tubing, imposes duties

WASHINGTON (Reuters) - The U.S. Commerce Department said on Tuesday that after an administrative review it has found South Korean steel producers have been dumping oil country tubular goods and has responded by imposing duties ranging from 2.76 percent to 24.9 percent.

The department said in a statement it "is exercising its authority under Congress for the first time to address market distortions in the production of foreign merchandise, and to calculate dumping margins that more accurately account for the unfair pricing practices of foreign exporters."