Chinese tyre prices under US lens
The US Commerce Department said, it has agreed to investigate charges that Chinese off-road tyre producers were selling their products in the US market at below fair market prices.
By Agencies |
WASHINGTON: The US Commerce Department said on Tuesday, it has agreed to investigate charges that Chinese off-road tyre producers were selling their products in the US market at below fair market prices. The department said it will investigate whether government subsidies allow Chinese producers to sell the off-road tyres at an unfair discount.
In June, the National Highway Traffic Safety Administration ordered a New Jersey importer to recall up to 4,50,000 Chinese-made light truck tyres because of safety concerns. That’s one of the several incidents that has prompted the Bush administration to review whether current US laws and regulations are adequate to keep out unsafe foreign goods.
The probe launched Tuesday focuses entirely on Titan Tyre’s claim it is being hurt by unfairly low-priced imports of Chinese off-road tyres.
The manufacturer has filed a petition along with two union groups asking for anti-dumping duties of up to 210% on the tyres, as well as additional duties to offset alleged government subsidies. Imports of the tyres under investigation grew by 30% in volume between 2004 and 2006 and were valued at an estimated $339.6 million last year.
In June, the National Highway Traffic Safety Administration ordered a New Jersey importer to recall up to 4,50,000 Chinese-made light truck tyres because of safety concerns. That’s one of the several incidents that has prompted the Bush administration to review whether current US laws and regulations are adequate to keep out unsafe foreign goods.
The probe launched Tuesday focuses entirely on Titan Tyre’s claim it is being hurt by unfairly low-priced imports of Chinese off-road tyres.
The manufacturer has filed a petition along with two union groups asking for anti-dumping duties of up to 210% on the tyres, as well as additional duties to offset alleged government subsidies. Imports of the tyres under investigation grew by 30% in volume between 2004 and 2006 and were valued at an estimated $339.6 million last year.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
