RANCHO CUCAMONGA, Calif. (Jan. 7, 2015) — Giti Tire (USA) Ltd. raised prices 9.5 percent Jan. 1 on all passenger and light truck tires it sources from China, due to the elevated countervailing duties imposed on Giti by the U.S. government.
Tires that Giti imports from China are being charged a duty of 11.74 percent, according to the U.S. Commerce Department's revised duty schedule announced Dec. 24. Giti's duty originally was higher, but Commerce revised it.
Giti said it delayed implementing a price increase until now because it was still working from inventory in stock that was not subject to the countervailing duty.
Giti noted ST-type trailer tires are exempt from the duty and therefore not part of the price increase.
“Giti Tire is committed to the U.S. market, and we look forward to working closely with our dealers to provide American consumers great quality tires at affordable prices,” said Armand Allaire, executive vice president of sales and marketing for Giti Tire (USA).
The company goes to market in the U.S. with four brands: GT Radial, Primewell, Dextero and Runway.
Commerce is scheduled to announce its decision regarding anti-dumping duties on Chinese-sourced consumer tires on Jan. 20.
Rancho Cucamonga-based Giti Tire is a subsidiary of Giti Tire Group, the predominantly Chinese tire maker based in Singapore. Giti also imports tires from an affiliated plant in Indonesia that are not subject to the elevated duties.