Date: 2024-08-12 08:55:57
On August 8th, the U.S. International Trade Commission voted to continue imposing 'double reverse' taxes on Chinese bus and truck tyres.
The commission's four members voted 3-1, with three members casting affirmative votes. The organization stated that withdrawing the tariffs now could harm the U.S. domestic tyre industry.
It is understood that from 2003 to 2018, China was the world's largest exporter of bus and truck tyres to the United States. In 2017, the United Steelworkers union filed a 'double reverse' complaint with U.S. authorities. After an investigation, in 2019, the U.S. Department of Commerce imposed 'double reverse' duties on Chinese bus and truck tyres.
The countervailing duty rates range from 21% to 63.3%; the anti-dumping duty rates range from 9% to 22.6%. According to regulations, the above two units must conduct a sunset review of the case every 5 years.
Since the imposition of 'double reverse' tariffs, the quantity of Chinese bus and truck tyres exported to the U.S. has dropped significantly. In 2019, the quantity of Chinese bus and truck tyres exported to the U.S. was 3.19 million pieces, a year-on-year decrease of 65.4%. In 2023, China's export volume in this sector ranked behind Thailand, Vietnam, Japan, and Canada.
