The United States International Trade Commission (USITC) has confirmed that it believes that the US tire industry has been significantly harmed by the import of OTR tires from India and Sri Lanka. This upholds a recent finding of the US Chamber of Commerce and is likely to lead to the imposition of tariffs.
Some OTR tire manufacturers will end up paying a 3.67 percent anti-dumping tariff though this will not apply in the case of Bal Krishna Tyres (BKT). BKT will still have to pay countervailing duties of 5.36 percent. Alliance Tires Pvt. Ltd. will have to pay 4.9 percent and all other Indian tire manufacturers will have to pay a 5.06 percent tariff.
When it comes to tire manufacturers from Sri Lanka, they will pay countervailing duties of 2.18 percent.
The USITC and DOC found as an outcome of their investigations that the governments of Inida and Sri Lanka were subsidizing exports of tires and hence these tires are being sold in the United States market at less than their fair value. This is why they decided to impose an anti-dumping duty order on imports of these products from India and countervailing duty orders on import of such tires from India and Sri Lanka to redress this disadvantage to US tire manufacturers.
Tires that were imported into the United States from Inida and Sri Lanka prior to June 20, 2016, will not be subject to retroactive countervailing duties.
The Commission will officially release its public report by March 16.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
Your email address will not be published. Required fields are marked *
© 2017 Morjan Media LLC. All Rights Reserved.