PSNews - The US Department of Commerce recently stated that, major Vietnamese tyre exporters have not dumped passenger tyres in the US. This department is scheduled to issue its final decisions on May 14 this year.
|Photo for illustration. Source: DNSG.
Accordingly, Sailun, Kenda Rubber, Bridgeston, Kumho Tire, and Yokohama Rubber - major Vietnamese tyre exporters have not dumped passenger tyres in the US, according to the US Department of Commerce’s latest affirmative preliminary anti-dumping duty determinations for passenger vehicle and light truck tires from the Republic of Korea, Taiwan, Thailand, and Vietnam.
As reported, they account for 95.5 percent of Vietnam’s total tire export turnover to the US in 2019. Meanwhile, the dumping rate for Vietnam-wide entity is at 22.3 percent.
The decisions have created advantages for the sector amid fierce competition from China and Thailand. The rubber sector also benefits from the decisions as a large number of its products are used to make tyres.
The US Department of Commerce is scheduled to release its final conclusion on May 14, 2021. The Ministry of Industry of Trade of Vietnam said it would continue to work with related parties during the trade dispute process to ensure the lawful rights and benefits of local firms.
Per the preliminary antidumping duty determinations, exporters have dumped passenger tyres in the US at rates of 14.24 to 38.07 percent for the Republic of Korea, 52.42 to 98.44 percent for Taiwan (China), 13.25 to 22.21 percent for Thailand, and 0 to 22.30 percent for Vietnam.
As a result, the US Customs and Border Protection (CBP) will be instructed to collect cash deposits from importers of passenger tyres from the nations based on the preliminary rates.
The US imported nearly 4 billion USD worth of tires from the four in 2019, with 469.64 million USD from Vietnam.
By Linh Bui