The volume of South Korea’s exports to the United States decreased

On January 7, 2018, Industrial data released showed that in the case of the United States to strengthen trade protection measures against South Korea, South Korea's gross domestic product exports to the United States increased in 2017. South Korea exported 3.4 million tons steel products in 2017, totaling 3.4 billion U.S. dollars. In 2016, South Korea exported U.S. steel products total 3.1 billion U.S. dollars.

From January to November 2017, the total volume of South Korea's exports to the United States decreased by 4.9% YoY, but in the view of the rising demand for steel in the United States and rising oil pipe price, .the total value of exports over the same period increased by 17.7% YoY. Petroleum tubing products include drilling, casing and piping systems used by the oil industry to extract oil and gas. The demand for oil pipe in the United States tends to be stronger with the widespread use of shale oil. In order to restrict Korean steel products, the United States imposed a 46.37% anti-dumping tax on petroleum pipe products imported from South Korea in October 2017.