WASHINGTON—The U.S. Department of Commerce has reduced the value of elevated antidumping duties imposed in 2021 on passenger and light truck tires imported by South Korea's three major tire makers.
The decision, disclosed in a Feb. 5 filing in the Federal Register, affects Hankook Tire & Technology Co. Ltd., Kumho Tire Co. Inc. and Nexen Tire Corp.
In a review of the duties covering an 18-month period—Jan. 6, 2021, through June 30, 2022—Commerce confirmed that the three Korean companies sold the subject merchandise in the U.S. at prices below normal value but a rates lower than determined originally.
As a result, the antidumping duties are being lowered thus:
- Hankook Tire — to 6.3 percent from 27.05 percent;
- Kumho Tire — to 5.4 percent from 21.74 percent; and
- Nexen Tire — to 4.29 percent from 14.72 percent.
The revisions are the result of a Commerce Department review of the duties that the agency agreed to carry out in September 2022. The results of that investigation were supposed to have been released by July 2023 but Commerce later extended the deadline.