The first Greece-based company affected by the recent Trump administration decision to slap tariffs on a series of European products is Corinth Pipeworks, following a rejection of an application that it be excluded from the 25-percent levy.
The cutting-edge Greek multinational, which operates a major subsidiary in Houston, CPW America, last year signed a contract with the US company Plains to supply the latter with steel for the 885-kilometer Cactus II oil pipeline in west Texas and New Mexico.
According to Reuters, Plain’s request for an exclusion was rejected by a relevant committee at the US Department of Commerce, which “toed the line” on the Trump administration’s shift to protectionism.
According to reports, the US federal government said a US company could supply the steel, with Plain countering that the agreement dates from last year, and thus precedes the US administration’s decision.
The US supplier also states that Corinth Pipeworks produces a type of steel highly conducive to the specific project, via an innovative process that is not used by US-based companies.
