Giti Tire (USA) Inc. will increase prices on all passenger and light truck tires (excluding ST tires) the company sells in the U.S. by 5.5%, effective immediately.
The price raise is in response to the 30.91% duty rate (the sum of 11.74% countervailing duties and 19.17% anti-dumping duties) assessed to Giti Tire.
In total, the company has raised its prices 15% since the DOC imposed duties on consumer tires from China. In January, Giti raised prices by 9.5%.
“We appreciate the outstanding relationships we’ve developed with many of the country’s top tire dealers and will continue to work closely with them to provide consumers a great tire at an affordable price,” said Armand Allaire, executive vice president, sales and marketing, for Giti Tire (USA) Ltd. “We are very committed to the U.S. market, as evidenced by the fact that we will be holding a groundbreaking ceremony for the new Giti Tire plant in Chester County, S.C., on Feb. 12.”
