Effective Dec.1, importers of passenger and light truck tires from China are required to pay the 15.69% countervailing duties, according to the Commerce Department’s notice in the Federal Register.
The new duty is retroactive 90-days from the publication date of the Federal Register.
Three companies have been singled out by the Commerce Department to pay separate countervailing duties – Cooper Kunshan China Tire Co. Ltd., Giti Tire Fujian Co. Ltd. and Shandong Yongsheng Rubber Group Co. Ltd. Cooper is expected to pay a duty of 12.5%, Giti a duty of 17.69% and Shandong a duty of 81.29%.
According to the notice the Commerce Department will 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, the notice said.
The Commerce Department will disclose to interested parties the calculations performed in connection with the preliminary determination within five days of its Federal Register notice.
The U.S. Customs and Border Protection is responsible for collecting all duties on imported tires, the notice stated.
Several tiremakers have responded to the preliminary determination made last week, read more here.
