US-China Trade Tensions Keep Ratcheting Up with Tire, Aluminum Foil Decisions

A pair of trade rulings by U.S. government agencies on tires and aluminum foil imported from China are poised to further increase the already rising trade tensions between the U.S. and China.Countervailing duties (CVD) ranging from 19.13% to 119.46% on passenger vehicle and light truck tires produced in China and exported to the U.S. were announced by the Commerce Department's International Trade Administration (ITA) in a set of notices set for publication in the Federal Register March 16.Meanwhile, the United States International Trade Commission (USITC) today determined that the U.S. aluminum foil industry is materially injured by imports of the product from China that Commerce determined are subsidized and sold in the United States at less than fair value. Commerce made their determination February 27.This determination marks the final phase of the antidumping and CVD process and will put in place for five years antidumping duties ranging from 48.64% to 106.09% and CVDs between 17.14% to 80.97%. The specific duties vary by company.