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Trade Service
On May 21, 2021, U.
S.
time, the U.
S.
Department of Commerce announced the "Final Decision" on passenger car tires from South Korea, Taiwan, Thailand, and Vietnam, and decided to impose high imports on passenger car tires from four regions.
Tariffs
.
The tax rates are as follows:
South Korea: Hankook Tire Technology Co.
, Ltd.
: 38.
07%; Nexen Tire Corp.
(Nexen Tire Corp.
): 14.
14%; all other shares (including Kumho Tire Co.
, Ltd.
): 27.
81%
.
Taiwan, China: Zhengxin Rubber: 33.
3% (revised from the higher tax rate originally levied); Nangang Rubber Tire Co.
, Ltd.
: 98.
44%; all others: 84.
33% (revised from the higher tax rate originally levied)
.
Thailand: Linglong Tire: 22.
21%; Sumitomo Rubber (Thailand) Co.
, Ltd.
: 13.
25%; All others: 16.
66%
.
Vietnam: National entities: 22.
30%
.
Excludes: Sailun Tire; Jianda Tire; Vietnam Bridgestone Tire Manufacturing Co.
, Ltd.
; Kumho Tire (Vietnam) Co.
, Ltd.
; Yokohama Tire Vietnam Co.
, Ltd
.
.
In addition, Vietnamese tire manufacturers must also deal with countervailing duties ranging from 6.
23% to 10.
08%
.
Normally, after the Ministry of Commerce initially approves the tariff policy, the International Trade Commission (ITC) should review the decision of the Ministry of Commerce and determine whether the reasons for these additional tariff increases are true
.
To this end, ITC has scheduled a hearing on May 25, which will be held online, so that all relevant parties can put forward their own opinions for mitigation or enforcement
.
After the hearing, the ITC commissioner will weigh the evidence and testimony and vote
.
And make a final decision before June 23
.
If the ITC votes in favor of all four regions, the Ministry of Commerce will impose all dumping and countervailing orders; however, if the committee votes against these four countries, the case will come to an end
.
S.
time, the U.
S.
Department of Commerce announced the "Final Decision" on passenger car tires from South Korea, Taiwan, Thailand, and Vietnam, and decided to impose high imports on passenger car tires from four regions.
Tariffs
.
The tax rates are as follows:
South Korea: Hankook Tire Technology Co.
, Ltd.
: 38.
07%; Nexen Tire Corp.
(Nexen Tire Corp.
): 14.
14%; all other shares (including Kumho Tire Co.
, Ltd.
): 27.
81%
.
Taiwan, China: Zhengxin Rubber: 33.
3% (revised from the higher tax rate originally levied); Nangang Rubber Tire Co.
, Ltd.
: 98.
44%; all others: 84.
33% (revised from the higher tax rate originally levied)
.
Thailand: Linglong Tire: 22.
21%; Sumitomo Rubber (Thailand) Co.
, Ltd.
: 13.
25%; All others: 16.
66%
.
Vietnam: National entities: 22.
30%
.
Excludes: Sailun Tire; Jianda Tire; Vietnam Bridgestone Tire Manufacturing Co.
, Ltd.
; Kumho Tire (Vietnam) Co.
, Ltd.
; Yokohama Tire Vietnam Co.
, Ltd
.
.
In addition, Vietnamese tire manufacturers must also deal with countervailing duties ranging from 6.
23% to 10.
08%
.
Normally, after the Ministry of Commerce initially approves the tariff policy, the International Trade Commission (ITC) should review the decision of the Ministry of Commerce and determine whether the reasons for these additional tariff increases are true
.
To this end, ITC has scheduled a hearing on May 25, which will be held online, so that all relevant parties can put forward their own opinions for mitigation or enforcement
.
After the hearing, the ITC commissioner will weigh the evidence and testimony and vote
.
And make a final decision before June 23
.
If the ITC votes in favor of all four regions, the Ministry of Commerce will impose all dumping and countervailing orders; however, if the committee votes against these four countries, the case will come to an end
.
