U.S. Commerce Department Lowers Tariff Rates
The U.S. Department of Commerce amended its countervailing duty rates for passenger vehicle and light truck tire from China to correct ministerial errors, according to reports. The errors occurred when the department included Giti Tire Fujian Co. Ltd. and Cooper Kunshan China Tire Co. Ltd. in its weighted average calculation.
With the corrections, Cooper Kunshan China Tire Co. Ltd. will pay the same duty rate at 12.5%, Giti Tire Fujian Co. Ltd. will pay a reduced rate of 11.74%, and Shandong Yongsheng Rubber Group Co. Ltd. will pay the same rate at 81.19%. All others will pay a reduced rate of 12.03%. The new rates will be charged in addition to the existing 4% tariffs on consumer tires imported from China.
The Commerce Department will also continue to evaluate the market for possible anti-dumping duties as well. The determination on those duties will be unveiled no later than April 6, 2015, unless the date is postponed, according to the Commerce Department.
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