WASHINGTON: The US Commerce Department said on Monday that car and light truck tires exported from Thailand, South Korea, Taiwan and Vietnam had been dumped at below-market rates in the United States.
The department said tires from Vietnam are being subsidised at a rate ranging from 6.23% to 7.89% through the conversion of US dollars into Vietnamese dong at an undervalued exchange rate, the department said in its final determination in the trade case.
It also said tires from Thailand were dumpted at a rate of up to 21%, from South Korea at up to 27%, from Taiwan at up to 102% and from Vietnam at up to 22%.
In 2020, US imports of car and light truck tires were valued at approximately $1.2 billion from South Korea, $373 million from Taiwan, $2 billion from Thailand and $470 million from Vietnam, the department said.