Korean Steelmaker to Bolster U.S. Output Amid Tariff Wars
29 September, 2018
Korea's largest steel pipe manufacturer SeAH Steel has decided to boost output in the U.S. to sidestep mounting trade pressure from Washington.
The U.S. has levied hefty anti-dumping tariffs on Korean-made steel products and imposed limits on imports amounting to only 70 percent of average shipments from 2015 to 2017.
SeAH Steel said Thursday it will invest US$25 million into its U.S. subsidiary to bolster oil pipeline tubing production there to 100,000 tons a year. That will bring SeAH's total output in the U.S. to 250,000 tons a year starting January 2020, when a new factory there is completed.
The steelmaker set up the subsidiary in Houston, Texas in December 2016 by acquiring an existing pipe manufacturer there.