The European Commission is recounting anti-dumping and anti-subsidy tariffs on Chinese truck tires in response to the European Court of Justice cancelling the previous tariffs on 4th May 2022.
The recalculation process will last until 23rd January before the final decision is made on 25th January. Most manufacturers face a rate of €38.87 per tire, while the tariff can be €21.12 and €61.76 on the lowest and highest end, respectively.
Hankook is predicted to have the lowest tariffs, with a rate of €21.12 per tire, while Weifang Yuelong Rubber is expected to have the highest tariffs at €61.76 per tire. Other tiremakers such as Aeolus/Prometeon, Giti Group, and Zhongce Rubber are expected to face tariffs between €42 to €49 per tire.
Corrado Moglia, European general manager of Triangle Tyre Co. Ltd (A member of the China Rubber Industry Association), stated that the tariff is not fixed and has not yet been enforced. Numbers are open to another adjustment before the final determination on 25th January 2023. He also states that the tire price increases due to rising tariffs will only burden transporters, fleets, and consumers.
This policy is a piece of good news for the industry, which will be likely to encourage more tire trade to happen in the future. As an industry player, now is an ideal time to take advantage of this golden opportunity. China International Tire Expo facilitates tire professionals to meet with hundreds of qualified Chinese tiremakers all under one venue. Take your chance to claim your seat in CITEXPO 2023 by registering right now. See you this year!
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