US cuts antidumping duties on Korean tires

Washington – The US Department of Commerce has lowered antidumping duties for passenger car and light vehicle tires fromm three major South Korean manufacturers Hankook Tire & Technology, Kumho Tire Co. and Nexen Tire Corp.

The duties were initially imposed on the tire makers in 2021 as part of Commerce’s review of duties on passenger car and light vehicle tires from South Korea, Taiwan and Thailand (ERJ report).

The original duties for Hankook and Nexen were 27.05% and 14.72% respectively, while Kumho’s rate along with "all other" Korean tire makers stood at 21.74%.

In a 5 Feb review of the duties, however, Commerce said it was reducing the rates for the three tire makers, with Hankook’s duties down to 6.3%; Kumho to 5.4% and Nexen to 4.29%.

The decision to lower the rates follows an earlier announcement by Commerce to reduce antidumping duties on passenger car tires from Thailand (ERJ report).