Giti Tire Group said it was disappointed by the U.S. Department of Commerce’s June 12 final determination to issue heavy antidumping and countervailing duties against Chinese passenger and light truck tyres imported from China.
Commerce issued final antidumping duties of 14.54 percent and final countervailing duties of 36.79 percent against Giti Tire, the company noted in a June 23 press release. These duties are more than double the level the agency announced earlier in 2015, it said.
The U.S. International Trade Commission is scheduled to vote July 14 on whether the U.S. tyre industry has been materially injured by Chinese imports.
“Once the ITC announces its decision, Giti Tire will formulate a course of action in response,” the company said.
Headquartered in Singapore, Giti Tire has its U.S. sales office in Rancho Cucamonga. Since its founding in 1951, Giti Tire has become the 10th-largest tyre manufacturer in the world, with eight manufacturing plants and distribution in more than 130 countries, the company said.
In February, Giti Tire broke ground on a $560 million tyre plant in South Carolina. Once completed, the facility will employ 1,700 workers, the company said. – Rubbernews.com