US reduces Chinese-produced car tyre tariffs
While US President Donald Trump may be talking up the benefits of a trade way, after reviewing certain tariffs on passenger and light truck (PLT) tyres imported from China, the US Department of Commerce (DOC) has adjusted some of its antidumping and countervailing rates. Reductions in the antidumping tariffs for the period from 27 January 2015 through 31 July 2016 include the rate for Giti Tire dropping from 30.74 per cent to 1.5 per cent and Qingdao Sentury Tire dropping from 25.84 per cent to 4.41 per cent.
The antidumping tariffs established by the DOC also include an adjusted rate of 2.96 per cent for many companies, including Hankook Tire China, Kenda Rubber (China), Kumho Tire, Sailun Tire, Dynamic Tire and Husky Tire, Shandong Linglong as well as Triangle Tire.
For the period of 1 December 2014 to 31 December 2015, the countervailing rate for Giti Tire fell from 36.79 per cent to 20.68 per cent. Other notable countervailing rate changes include Cooper (Kunshan) Tire, which dropped from 20.73 per cent to 16.16 per cent and 119.46 per cent against Zhongce Rubber (ZC Rubber). Other companies under review received an adjusted countervailing duty rate of 19.13 per cent.