Following a standard review cycle, the U.S. Department of Commerce intends to lower the tariffs imposed on passenger and light truck tires imported into the U.S. from South Korea.
The government studied the tires brought to the U.S. between Jan. 6, 2021, and June 30, 2022, and determined in that timeframe that Hankook Tire & Technology Co. Ltd., Nexen Tire Corp. and Kumho Tire Co. Inc. all sold tires into the U.S. market at prices below "normal value."
(Commerce reviewed and set specific rates for Hankook and Nexen. But Kumho wasn't chosen for its own individual review. Instead, its rate was established by a weighted formula using the Hankook and Nexen rates.) This is standard practice in tariff review cases, as the government can't commit the resources to study the data for every single producer or exporter who requests a review.
As a result, their tires must be assessed an anti-dumping duty, which reflects the dumping margin. These new rates will be sent to U.S. Customs and Border Protection no earlier than 35 days after they're published in the Federal Register on Feb. 5.
Hankook Tire & Technology Co. Ltd. 6.30%
Nexen Tire Corp. 4.29%
Kumho Tire Co. Inc. 5.40%
When these tariffs were initially imposed in 2021, Hankook was charged a 27.05% rate, and Nexen was charged 14.72%. All other parties were assessed a 21.74% rate.
In a separate investigation and annual review, Commerce also lowered the rates imposed on passenger and light truck tires from Thailand.