PITTSBURGH, Nov. 4, 2020 /PRNewswire/ -- The United Steelworkers (USW) today praised U.S. Department of Commerce's affirmative preliminary determination in the countervailing duty (CVD) investigation of passenger vehicle and light truck (passenger tires) tires imported from Vietnam. The decision resulted from a petition filed by the USW to address unfairly traded imports of tires.
According to the Commerce Department's investigation, tire exporters and producers from Vietnam have received subsidies from 6.23 percent to 10.08 percent, including among them Vietnam's undervalued currency, which marks this as the first time that an affirmative CVD determination was based on a foreign currency with a unitary exchange rate. For years the USW has been fighting to address foreign currency manipulation and ensure that U.S. trade laws would be effectively implemented.
USW International President Thomas M. Conway applauded the determination and called for continued vigilance against unfair and illegal trade practices.
"We are gratified with results of the Department of Commerce's investigation and acknowledgment that currency manipulation has disrupted our market," Conway said. "Clearly, the fight for a level playing field must continue."
"In almost every industry the USW represents workers, our jobs are vulnerable to illegally traded foreign imports, and our families and communities are the first to suffer the consequences," Conway said.
The Department of Commerce is scheduled to announce its final determination in the case on or about March 16, 2021, although this deadline may be extended.
In addition to its CVD actions on Vietnamese tires, the Department of Commerce is concurrently conducting antidumping duty (AD) investigations of passenger tires from Korea, Taiwan, Thailand, and Vietnam, with preliminary determinations scheduled to be announced on December 29, 2020.
The USW represents 850,000 men and women employed in manufacturing, metals, mining, pulp and paper, rubber, chemicals, glass, auto supply and the energy-producing industries, along with a growing number of workers in public sector, service, tech and academic occupations.
More information, contact: Tony Montana – 412-562-2592 or [email protected]
SOURCE United Steelworkers (USW)