WASHINGTON, June 23 (Yonhap) – The United States International Trade Commission (ITC) on Wednesday decided to approve anti-dumping tariffs on automotive tires imported from South Korea, Taiwan, Thailand and Vietnam.
The final decision comes about a month after the U.S. Department of Commerce announced it would impose anti-dumping tariffs of between 14.72% and 27.05% on passenger vehicle and light truck tires in the four countries.
The ITC stated that it determined “that a United States industry is suffering material injury as a result of imports of passenger vehicle and light truck tires from Korea, Taiwan and Thailand.”
Following its ruling, the Commerce Department “will issue anti-dumping duty orders on imports of these products from Korea, Taiwan and Thailand, and a countervailing duty order on imports of these products from China. Vietnam, ”he added.
The ITC noted that there were around 14 US manufacturers of these products, while imports accounted for almost half of its estimated market of US $ 20.1 billion.
Imports from the four countries amounted to around $ 4.4 billion in 2020, and South Korea is the second largest supplier of passenger vehicle and light truck tires to the United States after Taiwan by volume, according to the ITC.