By SEMA Washington, D.C., Staff
The U.S. Department of Commerce (DOC) issued a final decision that passenger and light-truck tires imported from South Korea, Taiwan, Thailand and Vietnam are being sold in the United States at less than fair value (“dumping”), and that Vietnamese tire producers have received unfair subsidies associated with the country’s “undervalued currency” (countervailing duties).
The dumping margins were revised from the preliminary calculations made last December although not significantly. The new margins range from 14.72% to 27.05% for South Korea, 20.04% 101.84% for Taiwan, 14.62% to 21.09% for Thailand, and 0% to 22.30% percent for Vietnam. The subsidy rates range from 6.23% to 7.89% for Vietnam. U.S. Customs and Border Protection will adjust the cash deposits from tire importers based on the final rates.
For the duties to take effect, the U.S. International Trade Commission (ITC) must determine that U.S. industry is being harmed or threatened with harm from the unfair trading activity. The ITC has already issued a preliminary affirmative decision. The agency is scheduled to issue its final determination by June 28, 2021.
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