They consist of Sailun, Kenda Rubber, Bridgeston, Kumho Tire, and Yokohama Rubber, accounting for 95.5 percent of Vietnam’s total tire export turnover to the US in 2019.

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Production activities at a factory of the Danang Rubber JSC at the Lien Chieu Industrial Park. (Photo for illustration)

Meanwhile, the dumping rate for Vietnam-wide entity is at 22.3 percent.

The decisions have created advantages for the sector amid fierce competition from China and Thailand. The rubber sector also benefits from the decisions as a large number of its products are used to make tyres.

The DOC is expected to issue its final decisions on May 14 this year.

Per the preliminary antidumping duty determinations, exporters have dumped passenger tyres in the US at rates of 14.24 to 38.07 percent for the Republic of Korea, 52.42 to 98.44 percent for Taiwan (China), 13.25 to 22.21 percent for Thailand, and 0 to 22.30 percent for Vietnam.

As a result, the US Customs and Border Protection (CBP) will be instructed to collect cash deposits from importers of passenger tyres from the nations based on the preliminary rates.

The US imported nearly 4 billion USD worth of tires from the four in 2019, with 469.64 million USD from Vietnam.

Source: VNA