EU’s tariff evasion, dumping probe looms over Vietnamese tire manufacturers
EU’s tariff evasion, dumping probe looms over Vietnamese tire manufacturers
The European Commission (EC) is considering an investigation into whether Vietnamese bus and truck tire exporters are avoiding tariffs or employing unfair underpricing after spotting a suspicious rise in Vietnamese tires entering the European market, the Trade Remedies Authority of Vietnam said on Wednesday.
If an investigation is opened, domestic tire companies could be seriously affected, the agency said.
The specter of a tax evasion and dumping probe arose after the EC imposed a six-month anti-dumping duty of 52.9 to 82.2 percent on Chinese tires on May 4.
Meanwhile, Vietnamese rubber tire exports to Europe Union countries have increased since the tariff was imposed, from 3,494 tires in May to 18,974 in August, according to figures on the trade remedies authority’s website.
The European Union has a history of launching dumping investigations into multiple products from Vietnam after its imposition of anti-dumping tariffs on Chinese goods.
Vietnam’s major markets, like the United States, South Korea, Australia and Canada, have also conducted protectionist probes against the Southeast Asian country in similar cases.
