US reduces Chinese tyre countervailing duties
The US Department of Commerce has reduced preliminary countervailing duties on tyres manufactured in China, according to local news sources. The countervailing duties are in addition a 4-per cent import tariff.
The Herald, which is distributed in Chester county area of South Carolina where Giti will soon break ground on its new tyre factory, reported that the commerce department has lowered Giti’s rate to 11.74 per cent from 17.69 per cent. At the same time the rate for most other Chinese-manufactured tyres dropped to 12.03 per cent from 15.69 per cent.
According to the newspaper, the changes do not apply to Cooper Kunshan Tire Co. or Shandong Yongsheng Rubber Group, which are facing tariffs of 12.5 per cent and 81.29 per cent respectively.
For complete coverage of the latest round of Chinese-US import tariffs, click here.