Commerce Sets New CV Duties on Vietnamese Tires
The Commerce Department will suspend liquidation and set new countervailing duty cash deposit rates for imports of passenger vehicle and light truck tires from Vietnam (C-552-829), it said in a Nov. 4 news release announcing its preliminary determination in an…
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ongoing CV duty investigation. “Among the subsidies preliminarily countervailed is Vietnam’s undervalued currency -- making this the first time that Commerce has ever made an affirmative CVD determination regarding a foreign currency with a unitary exchange rate,” Commerce said. The agency issued a final rule in February on the new authority (see 2002030016). CV duty rates, which range from 6.23% to 10.08%, will take effect upon publication of the preliminary determination in the Federal Register, which is expected in the coming days.