The United States has taken a decisive step in response to the surge in imports of truck and bus tyres from Thailand, as the U.S. Department of Commerce recently announced the imposition of preliminary anti-dumping duties. This move follows a thorough investigation into whether these tyres are being sold in the U.S. market at unfairly low prices, posing a potential threat to domestic manufacturers.
The investigation was initiated on November 14, 2023, considering a notable uptick in imports. Over a span of two years, the quantity of these tyre imports from Thailand more than doubled, soaring to a value of US$1.46 billion in 2022.
Bridgestone Corporation and Prinx Chengshan Tire (Thailand) Co., Ltd. were identified as mandatory respondents in the investigation, with preliminary findings indicating the presence of dumping practices in the market. Consequently, the Department of Commerce decided to act, though preliminary, by imposing anti-dumping duties.
hinese tyre manufacturer reported substantial growth in sales across Europe and the Middle East. The company’s annual revenue reached 10.42 billion yuan (approximately £1.13 billion or €1.33 billion), with a net profit of about 1.4 billion yuan (approximately £150 million or €180 million). This performance enabled Triangle Tyre to surpass Double Coin in the rankings of Chinese tyre manufacturers, positioning it behind only ZC Rubber, Sailun, and Linglong.
The preliminary determination, initially scheduled for May 14, 2024, represented a significant milestone in the ongoing efforts to safeguard fair competition and protect the interests of domestic tyre manufacturers in the United States. The imposition of these duties aims to counteract the adverse effects of unfairly priced imports and ensure a level playing field for all industry players.
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