Giti Tire (USA) Ltd. is raising prices on all passenger and light truck tires it sells in the U.S. for the second time since the beginning of 2015.
The company says it is imposing a 5.5% increase on those tires, effective immediately. ST tires are excluded from the price hikes.
The increases are in response to the U.S. Department of Commerce duties. The total anti-dumping duties assessed to Giti Tire are 30.91% (combining the 11.74% countervailing duties and the 19.17% anti-dumping duties). The company has responded by raising its prices 15% - 9.5% effective Jan. 1, 2015, and 5.5% effective Feb. 4, 2015.
“We appreciate the outstanding relationships we’ve developed with many of the country’s top tire dealers and will continue to work closely with them to provide consumers a great tire at an affordable price,” says Armand Allaire, executive vice president of sales and marketing for Giti. “We are very committed to the U.S. market, as evidenced by the fact that we will be holding a groundbreaking ceremony for the new Giti Tire plant in Chester County, South Carolina, on Feb. 12.”
To review's Giti's story as the tariff news has unfolded, read these stories:
Giti is unhappy with tariff determination;
Giti raises prices 9.5% due to tariffs;
DOC admits mistake, implements lower tariffs;
