US Lowers Subsidy Rates for Two Vietnam Tire Makers

The US Department of Commerce has preliminarily determined that passenger vehicle and light truck tires from Vietnam continued to benefit from countervailable government subsidies during 2024. As a result, the department has assigned a 3.01% countervailing duty subsidy rate to Kenda Rubber (Vietnam) Co. and a 5.84% rate to Kumho Tire (Vietnam) Co. The review covers imports during the period 1 Jan-31 Dec 2024. Other tire makers will continue to receive the tariff rate calculated in 2021, which was 6.46%. The department 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.