DOC makes positive conclusion for Vietnam’s tire makers

VNA
The US Department of Commerce (DOC) has issued a positive conclusion for Vietnam in the anti-dumping and countervailing duty probes into imported automobile tires.
DOC makes positive conclusion for Vietnam’s tire makers ảnh 1 Illustrative image.
On May 24, the DOC issued its final conclusion about the anti-dumping and countervailing duty investigations into automobile tires imported from the Republic of Korea, Taiwan (China), Thailand, and Vietnam.

For the anti-dumping duty content, the DOC maintained its decisions made in the preliminary conclusion. Accordingly, most of the businesses that account for 95.5 percent of Vietnam’s total car tire exports to the US are considered free of dumping their products and thus, not subject to anti-dumping duties, while a tax rate of 22.3 percent is imposed on the remainders.

For the countervailing duty content, the tax rates on the Vietnamese enterprises are set at between 6.23 percent and 7.89 percent, down from the 6.23 percent – 10.08 percent determined in the preliminary conclusion.

Given this, the anti-dumping and countervailing duties that the companies making up 95.5 percent of the tire exports to US are between 6.23 percent and 7.89 percent, lowest among the countries and territory subject to the investigations.

This is a positive result for Vietnam’s tire producers and exporters to the US – the largest market of Vietnamese tires. It also benefits the rubber industry since about 80 percent of natural rubber harvested in Vietnam is used for tire manufacturing.

The Ministry of Industry and Trade (MoIT) said it has been working closely with relevant parties to secure objective and positive results for Vietnamese producers and exporters.

The ministry noted it has continually discussed with related agencies of the US via different dialogue channels to prove that Vietnam did not dump or subsidize automobile tires or devalue its currency to create an export advantage.

It will continue coordinating with the State Bank of Vietnam and relevant ministries and sectors to continue talking with the US about this country’s conclusion regarding currency devaluation, the ministry added.

Other news