US initiates anti-subsidy investigation into Vietnamese tyres

The US Department of Commerce has officially launched an anti-subsidy investigation into a number of automobile tyre products which originate from the nation, according to a statement issued by the Ministry of Industry and Trade.

us initiates anti subsidy investigation into vietnamese tyres

The data from last year released by customs operating within the United States indicates that Vietnam exported tyre products worth approximately US$525 million to the US market.

The initiation of the investigation comes after the US received a petition for anti-dumping investigation on May 13 on Vietnamese tyre imports.

In total, the investigation into the case is anticipated to last for 12 months and has the option of being extended for an additional six months.

Throughout the investigation, the US Department of Commerce may choose to issue preliminary conclusions, as well as applying anti-dumping and temporary anti-subsidy measures.

After receiving information regarding the petition, the Ministry of Industry and Trade (MoIT) moved to deploy activities aimed at supporting enterprises by exchanging and consulting alongside relevant Vietnamese agencies and export businesses, in addition to the US side, as a means of clarifying the contents of the petition.

In addition, the ministry has been closely co-ordinating efforts with relevant ministries in a bid to report the incident to the Prime Minister whilst also proposing plans to handle the case in order to protect the legitimate rights and interests of Vietnamese firms.

In an effort to respond effectively to the case, the MoIT has recommended that relevant Vietnamese exporters should be active in stepping up comprehensive co-operation with the US Department of Commerce throughout the investigation process.

The MoIT will therefore closely co-ordinate with Vietnamese relevant agencies in a bid assist them in providing all necessary information to the Department of Commerce for assessment before they issue their conclusions on the investigation.

Source: VOV

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