Tire Business reports that the US Department of Commerce has reduced the pending countervailing duty rate on passenger and light truck tires imported from China from 15.69% to 12.03%, or nearly 3.7 percentage points. Commerce attributed the reduction to “significant ministerial errors” in the way it calculated certain sales denominators.
This rate will apply to all but a few excepted manufacturers. Among excepted suppliers, the rate applied to Giti Tire (Fujian) Co. Ltd. and “certain cross-owned” companies will be lowered to 11.74% from 17.69%, a reduction of 5.95 percentage points. The revisions will not apply to Cooper Kunshan Tire Co. Ltd. or Shandong Yongsheng Rubber Group Co. Ltd., which were levied duty rates of 12.5% and 81.29%, respectively. In addition to the countervailing duties, all imported tires are subject to the prevailing 4% import tariff.
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