US lowers subsidy rates for two Vietnam tire makers

Washington, DC – The US Department of Commerce has preliminarily determined that passenger vehicle and light truck (PC/LT) tires from Vietnam continued to benefit from countervailable government subsidies during 2024.

In preliminary results of an administrative review published 23 June, the department assigned a 3.01% countervailing duty subsidy rate to Kenda Rubber (Vietnam) Co. and a 5.84% rate to Kumho Tire (Vietnam) Co.

The remaining companies that did not request a review continued to receive the tariff rate calculated from the initial investigation in 2021, which was 6.46%.

The review covers imports during the period 1 Jan-31 Dec 2024.

Commerce also said it intends to rescind the review for American Kenda Rubber Industrial Co. and Kumho Tire Co., after determining that neither company had reviewable suspended entries during the review period.

Interested parties have been invited to comment on the preliminary findings before the department issues its final determination.