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USDOC initiates anti-dumping case linked to currency undervaluation

The United States Department of Commerce (USDOC) initiated an anti-dump case linked to the undervaluation of the Vietnamese currency.

In addition, the case concerns Vietnamese tire imports, on the grounds that the undervaluation of the currency is a compensatory subsidy.

First of all, the USDOC announced on Monday the initiation of new anti-dumping (AD) and countervailing duty (CVD) investigations to determine whether passenger vehicle and light truck (PVLT) tires from the Republic of Korea, Taiwan, Thailand, and Vietnam are being dumped in the United States, and to determine whether Vietnamese producers are receiving unfair subsidies.

The petitions were filed by United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, and the AFL-CIO, CLC (Pittsburgh).

Therefore, in anti-dumping investigations, the USDOC will determine whether PVLT tire imports from Korea, Taiwan, Thailand, and Vietnam are being dumped in the US market at less than fair value.

USDOC

The alleged dumping margins are as follows:

  • 42.95-195.20% for Korea.
  • 20.57-116.14% for Taiwan.
  • 106.36-217.50% for Thailand.
  • 5.48-22.30% for Vietnam.

In the countervailing duty investigation for Vietnam, the USDOC will determine whether Vietnamese PVLT tire producers are receiving unfair government subsidies.

At the same time, USDOC will investigate 20 grant programs, including tax programs, government provision of goods for less than adequate remuneration, import substitution subsidies, subsidies, government loans and the supposedly undervalued currency of Vietnam.

This is the first time that the Department of Commerce has launched an investigation into alleged monetary subsidies in relation to a foreign currency with a single exchange rate.

Timeline

During Commerce investigations, the USITC will conduct its own investigations into whether the US industry and its workforce are being harmed by such imports.

Then, the USITC will make its preliminary determinations before July 17.

If the USITC preliminarily determines that there is reasonable evidence of material injury or threat of material injury, then USDOC’s investigations will continue, with CVD’s preliminary determination scheduled for August 26 and AD’s preliminary determinations scheduled for November 9, unless these deadlines are extended.

 

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