Guizhou Tire seeks to mitigate impact from U.S. anti-dumping ruling

Guizhou Tire Co. Said on Wednesday that the United States’ latest anti-dumping and anti-subsidy measures on tires made in China would impact the company’s performance to a certain extent.

According to the preliminary ruling by the U.S. government, Guizhou Tire will be levied an anti-dumping duty of 22.57 percent and an anti-subsidy duty of 65.46 percent on tires exports to the U.S.

In the first nine months of 2016, Guizhou Tire sold tires worth 267.276 million yuan to the U.S., accounting for about 6.56 percent of its overall revenues.

Guizhou Tire has come up with two plans in response to the U.S. ruling. First, it plans to pace up in adjusting product structure, strengthen marketing in North America and increase sales in the domestic market. Second, it would seek to maintain its market share in the U.S. by cooperating with overseas tire makers.

The United States International Trade Commission would make the final ruling by March 6 this year. If the final ruling maintains the preliminary one, the anti-dumping and anti-subsidy measures will become effective before March 13, 2017.