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Hwa Fong joins Taiwan tire makers bid for alternative to import duties
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WASHINGTON Hwa Fong Rubber Ind. Co. Ltd., Taiwan s No. 5 tire maker which goes to market under the Duro brand, has added its support to the proposal four other Taiwan tire companies put forth a week ago as an alternative to import duties.
Cheng Shin Rubber Ind. Co. Ltd., Federal Corp., Kenda Rubber Industrial Co. Ltd. and Nankang Rubber Tire Corp. Ltd. submitted a proposal to the Department of Commerce on Jan. 13 asking the U.S. government to consider suspending its antidumping investigation into imports from Taiwan in exchange for pricing oversight on shipments into the U.S.
Global All Steel Radial Tires Market Survey Report, 2020-2027 sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
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The Chinese Tire Market was valued USD 28.19 Billion in 2019 and is projected to grow at CAGR of over 6% during the forecast period to reach USD 36.82 Billion by 2025, owing to increasing sales of automobile and growing replacement tire demand in the country.
Rising demand for automobiles in most of the countries is leading to higher production in China. China is a leading exporter of automobiles to most of the regions across the globe, with the country being the largest exporter of automobiles to Middle East. High and rising vehicle production in China is expected to continue boosting the demand for tires in the OEM tire segment.
MOEA to help vehicle tire makers facing U.S. anti-dumping duties
01/02/2021 08:45 PM
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Taipei, Jan. 2 (CNA) The Ministry of Economic Affairs (MOEA) has vowed to assist Taiwanese vehicle tire makers accused of unfair trade practices by the United States who face anti-dumping tariffs.
The Bureau of Foreign Trade (BOFT) under the MOEA said on Friday that it will meet the affected firms in the anti-dumping case and their association as soon as possible to discuss how to secure a favorable decision from the U.S. authorities and reduce the impact of financial punishments.
The move by the BOFT to offer help came after the U.S. Department of Commerce (DOC) on Wednesday released a preliminary ruling based on its anti-dumping duty investigations, saying passenger vehicle and light truck tire makers from Taiwan, South Korea, Thailand and Vietnam have dumped their products on the U.S. market.