Taiwanese tire maker halts U.S.-bound exports ahead of anti-dumping ruling

The U.S. anti-dumping probe on vehicle tire imports from a number of countries, including Taiwan, is set to wrap up next month, though tire supplier Nankang Rubber Tire had jumped the gun to announce that the company will cease exports to the U.S.

Industry experts regard Nankang Rubber Tire's latest move to likely lead to a more optimistic outcome in terms of the investigation ruling but noted that further observation is still needed.

Reports say that the U.S. Commerce Department's anti-dumping probe is largely focused on Nankang Rubber Tire. The department had launched its investigation into Taiwan and other countries', and at the end of 2020, it had made "preliminary determinations" to levy duties on tires made for passenger vehicles and light trucks.

The duties ranged from 33% to 98.44%, with Nankang seeing the highest rates at around 98%.

Domestic media reported that Nankang had reached out to American counterparts to initiate talks, though later chose to cease exports once those talks fell through. Currently, Nankang will attempt to resume exports to the U.S. market through a subsidiary based in China.

The investigations are slated to provide final deliberations on May 13, with the U.S. Commerce Department announcing anti-dumping regulations on July 6, effective July 7 immediately.

Though, Taiwanese tire makers regard Nankang's latest movement favorably, as they reasoned it could become a basis to leverage lower duties from the U.S.