June 06, 2020

·The US Department of Commerce lowered the "double anti-" tax on Indian engineering tires

On March 6, local time, the US Department of Commerce slightly cut the "double-reverse" tax rate on imported OTR tires from India.

Indian tire manufacturer ATC tires is one of the companies involved. The company filed an application in January this year, arguing that the US Department of Commerce had significant errors in the calculation of tax rates.

After reviewing the calculation process, the US Department of Commerce agreed to adjust its countervailing duty rate.

After this adjustment, the countervailing duty rate of ATC tires decreased from 4.9% to 4.72%.

The countervailing duty rate of other OTR tire manufacturers in India dropped from 5.06% to 4.94%.

Balkrishna’s countervailing duty rate is still 5.36%.

The tax rate for Sri Lankan OTR tire manufacturers is 2.18%.

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