Tariffs on some truck and bus tires imported from China will more than double after the U.S. Department of Commerce determined the tires were being unfairly subsidized in their home country and dumped in the U.S. market.
On Monday the DOC announced subsidy rates ranging from 38.61 percent to 65.46 percent — up from the 17.06 percent to 23.38 percent decided in an earlier stage of the process. Double Coin will pay the lower rate, Guizhou Tyre the highest rate and most companies 52.04 percent.
The antidumping margins range from nine percent to 22.57 percent — which is down from the 30.36 percent that all manufacturers were to pay in the preliminary decision — depending on the company concerned. Prinx Chengshan (Shandong) Tire Co. Ltd. will pay the nine percent duty and other producers face a 22.57 percent rate, assuming the tariffs are imposed.
The U.S. International Trade Commission will meet on March 6 to determine whether tariffs will remain in effect. If they agree with the DOC, then the tariffs will be imposed and collected.
In 2015 almost nine million Chinese truck and bus tires worth $1.7 billion were imported to the U.S., DOC figures show.
1 Comment
Leave a Reply
Recommended for you
