The US Commerce Department has announced preliminary Anti-Dumping duties on Chinese manufactured Passenger Car and Light truck tires. The preliminary Anti-dumping duty for our tires is 27.72%. The final determination will be made in June 2015.
When added to the previously announced Countervailing duty of 12.05% and to the the normal duty of 4%, the total duty on these tires is 44.22%.
FTS' ST tires are excluded from these duties (other than the usual 4%). The Commerce Department has made some adjustments to the Anti-Dumping Duty. When these adjustments are applied, the Anti-Dumping duty is reduced to 20.47%. Hence, the total duties come to 36.52%
FTS ANNOUNCES THAT PROMETER PASSENGER CAR AND LIGHT TRUCK TIRES WILL NOW BE MADE IN THAILAND AND NOT SUBJECT TO THESE DUTIES!