The US government has once again slapped a 99% duty on all oil well tubular products from China, citing unfair selling by China. The local tubular industry in US has been hit badly in the last three years, thanks to massive increase in imports from China which are happening at substantial discounts.
The duty would help few of the closed oil well tube units in US to reopen in the coming months. China might retaliate over the coming weeks with counter measures.