USA drops Sri Lanka OTR tyre duty
The Sri Lanka Association of Manufacturers and Exporters of Rubber products (SLAMERP) has praised the USA’s decision to revoke the countervailing duty imposed upon off-the-road tyres imported from Sri Lanka. Commenting upon the ruling made by the US Court of International Trade on 11 July, SLAMERP notes that it “expresses confidence” in the growth of Sri Lankan exports to the USA.
According to Prabhash Subasinghe, SLAMERP chairman, the move will further reinforce the country’s tyre industry. “With respect to the regulations set up by the World Trade Organization, the removal of this 0.95 per cent duty also eliminates a larger 2.18 per cent countervailing duty on the imports of OTR tyres from Sri Lanka to the United States.”