The U.S. Department of Commerce today announced an affirmative preliminary determination in the countervailing* duty (CVD) investigation of passenger vehicle and light truck (passenger tires) tires from Vietnam. The Commerce Department claimed that exporters and producers from Vietnam received counter available subsidies with rates ranging from 6.23% to 10.08%.
Among the subsidies preliminarily countervailed is Vietnam’s undervalued currency. This is the first time that Commerce has ever made an affirmative CVD determination regarding a foreign currency with a unitary exchange rate. Commerce will instruct U.S. Customs and Border Protection to collect cash deposits from importers of passenger tires from Vietnam based on these preliminary rates above.
The petitioner is the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial, and Service Workers International Union, AFL-CIO, CLC. The company is headquartered in Pittsburgh, PA. Commerce is scheduled to announce its final determination in this case on or about March 16, 2021. This deadline may be extended.
If Commerce makes an affirmative final determination, the U.S. International Trade Commission (ITC) will be scheduled to make its final injury determination on or about 30 April 30, 2021. If Commerce makes an affirmative final determination in this investigation and the ITC makes an affirmative final injury determination, Commerce will issue a CVD order. If Commerce makes a negative final determination of countervailable subsidization or the ITC makes a negative final determination of injury, the investigation will be ended, and no order will be issued.
*A subsidy is a financial contribution provided by a government or any public body which confers a benefit to an entity. Subsidies are “countervailable” if they are provided specifically to certain enterprises or industries, or groups thereof.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Commerce – Countervailing Duties on Vietnamese Cars,Tires
The U.S. Department of Commerce today announced an affirmative preliminary determination in the countervailing* duty (CVD) investigation of passenger vehicle and light truck (passenger tires) tires from Vietnam. The Commerce Department claimed that exporters and producers from Vietnam received counter available subsidies with rates ranging from 6.23% to 10.08%.
The petitioner is the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial, and Service Workers International Union, AFL-CIO, CLC. The company is headquartered in Pittsburgh, PA. Commerce is scheduled to announce its final determination in this case on or about March 16, 2021. This deadline may be extended.
If Commerce makes an affirmative final determination, the U.S. International Trade Commission (ITC) will be scheduled to make its final injury determination on or about 30 April 30, 2021. If Commerce makes an affirmative final determination in this investigation and the ITC makes an affirmative final injury determination, Commerce will issue a CVD order. If Commerce makes a negative final determination of countervailable subsidization or the ITC makes a negative final determination of injury, the investigation will be ended, and no order will be issued.
*A subsidy is a financial contribution provided by a government or any public body which confers a benefit to an entity. Subsidies are “countervailable” if they are provided specifically to certain enterprises or industries, or groups thereof.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.