US Puts Anti-Dumping Duty On Korean, Taiwanese, Thai Tire Imports - Commerce Dept

WASHINGTON (UrduPoint News / Sputnik - 24th June, 2021) The United States will impose anti-dumping duties on tires for passenger vehicles and light trucks imported from Korea, Taiwan, and Thailand after an investigation determined they were underpriced to hurt US tire-makers, the Commerce Department said on Wednesday.

The probe found that Korean, Taiwanese and Thai buyers of these tires were subsidized by Vietnam, the country where they were manufactured, enabling the products to be re-exported to the United States at below fair value. It also found that Vietnam itself sold little of those tires directly to the US market, and thus, anti-dumping duty on such Vietnamese tires will be removed.

"Commerce will issue antidumping duty orders on imports of these products from Korea, Taiwan, and Thailand, and a countervailing duty order on imports of these products from Vietnam," a statement from the department said.

US passenger vehicle and light truck tire sales are expected to reach $114 million in value in 2021, Databridge Market Research said.

Thailand accounts for the largest share of such US tire imports, with the Asian country supplying the United States some 37 million passenger car tires and around 7.7 million light truck tires in 2019, trade data showed.