On June 28th, the US Department of Commerce issued a preliminary ruling on the counter-subsidy of China's truck and bus tires, and initially determined that there were subsidies for the truck and bus tires that China exported to the United States.
According to the preliminary results, the subsidy for double money tires was 17.06%, that for Guizhou tires was 23.38%, and that for other Chinese tire companies was 20.22%.
The US Department of Commerce will direct customs and border inspection agencies to collect margins in accordance with this ratio.
The "double-reverse" applicant, the United Steelworkers' Federation (USW), welcomed the results.
According to the US Department of Commerce, in 2015, China exported 8.9 million truck and bus tires to the United States, valued at $1.07 billion.
In comparison, in 2013, the number of Chinese tire exports to the United States was 6.3 million, with a value of $885.1 million.
According to the tire world network, the anti-dumping investigation period set by the US is from July 1st to December 31st, 2015, and the countervailing investigation period is the whole year of 2015.
The US Department of Commerce said that the "double-reverse" final ruling will be released on November 10. If the vote is positive, the US International Trade Commission will make a final ruling on substantive damage on December 24.
If the US International Trade Commission finally makes a positive ruling, the "double-reverse" tax rate will be implemented on December 31.
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