Auto & Transportation

On May 21, local time, the U.S. Department of Commerce (DOC) ruled to impose tariffs on passenger car tires produced in South Korea, Taiwan, Thailand, and Vietnam.

It is understood that in addition to mainland China, the above-mentioned four locations are the most important tire producing areas in Asia.

This shows that the United States continues to increase its trade barriers to Asian tires.

Normally, after the U.S. Department of Commerce approves the tariff policy, the U.S. International Trade Commission (ITC) should review the DOC’s decision and determine whether the reasons for imposing additional tariffs are true.

ITC has arranged to hold a hearing on May 25.

All relevant parties can put forward their own opinions.

It is reported that in late December last year, the US Department of Commerce initially decided to impose anti-dumping duties on passenger car and light truck tires produced in the above-mentioned four places, ranging from 13.25% to 98.44%.

Among them, South Korea is 14.24%-38.07%; China Taiwan is 52.42%-98.44%;

Thailand is 13.25%-22.21%; Vietnam's highest is 22.30%.

The specific tax rates are as follows:

Korea

Hankook Tire 38.07%; Nexen Tire 14.14%; other companies (including Kumho Tire) 27.81%.

Taiwan, China

Zhengxin Rubber 33.3%; Nangang Tire 98.44%; other companies 84.33%.

Thailand

Linglong Tire 22.21%; Sumitomo Rubber 13.25%; Other companies 16.66%.

Vietnam

22.30% nationwide (excluding Sailun, Jianda, Bridgestone, Kumho, Yokohama).

In addition, Vietnamese tire manufacturers must also levy 6.23%-10.08% countervailing duties.