Washington — The US commerce department issued a notice on 1 Dec announcing that importers of passenger and light truck tires from China were required to pay the newly determined countervailing duties on those tires effective 1 Dec.
The duty — 15.69 percent for all but three companies singled out by commerce — is being applied retroactively 90 days from 1 Dec, in accordance with sections 703(d)(1)(B) and (d)(2) of the Tariff Act of 1930, according to the Federal Register notice.
The firms singled out — Cooper Kunshan China Tire Co. Ltd., Giti Tire Fujian Co. Ltd. and Shandong Yongsheng Rubber Group Co. Ltd. — were given separate countervailing duties of 12.5, 17.69 and 81.29 percent, respectively.
In addition, Cooper Kunshan and Giti Tire are exempted from the 90-day retroactive assessment.
From a business practice standpoint, US Customs and Border Protection is responsible for collecting the duties owed on tires imported to the US from 1 Dec forward as well as on tires covered by this action that have been withdrawn from warehouses for the 90 days prior to 1 Dec.
The US commerce department is continuing to evaluate the market for possible anti-dumping duties as well, the Federal Register notice states, and plans to issue its final determination on both the countervailing and anti-dumping duties no later than 6 April, 2015.
The duties are imposed in addition to the prevailing 4-percent rate.