Titan Tire Welcomes Anti-Dumping Determinations
Titan Tire Corporation says it welcomes news of the ‘affirmative injury’ determinations issued on August 15 by the US International Trade Commission (ITC) regarding the antidumping and countervailing duty investigations concerning off-the-road (OTR) tyres from China. By a vote of 5 to 1, the ITC ruled that these OTR tyre imports from China were causing material injury to US industry.
“Today’s decision is an exciting outcome for working men and women across the country. It proves that many people are hurt by unfair trade practices, and shows that our trade remedy laws are effective in combating unfair foreign trade practices for US industry and its workers. A level playing field has been restored in our OTR tyre market, and the harm caused to the US industry by Chinese producers will now hopefully be corrected,” said Maurice M. Taylor Jr., chairman and CEO of Titan Tire parent company Titan International. “Our industry had been losing market share to imports from dumped and subsidised Chinese exports, which undermined jobs, profits and competitiveness of US producers,” he added.
Since preliminary duties were imposed in these cases last December and this February, imports from have China declined, and production in the US of tyres in all OTR size ranges increased. “I am glad that the system has worked and the Chinese are no longer permitted to flood the U.S. market with dumped and subsidized OTR tires,” Taylor concluded.
Final antidumping and countervailing duty orders on OTR tyre imports from China will be issued by the Department of Commerce (DOC). The DOC will require the posting of cash deposits equal to the dumping and subsidisation found for individual companies.