BEIJING — Chinese tire makers Jiangsu General Technology Co. Ltd.(JGST) and Shandong Linglong Tire Co. Ltd. are welcoming the U.S. Commerce Department's decision to lower anti-dumping rates on consumer tires originating from Thailand.
In separate stock exchange filings on Jan. 25, JGST and Linglong — which have subsidiaries in Thailand — said the revised duty rates will help them enhance their competitiveness.
Commerce disclosed the revised rates — down to 4.52% for both JGST's and Linglong's Thai subsidiaries from 17.06% and 21.09%, respectively — in a Jan. 28 Federal Register posting.
Noting that it considers its General Rubber (Thailand) Co. Ltd. subsidiary an "important overseas base" for the company, JGST said the tax rate adjustment will help it "further seize market share and enhance its competitiveness and profitability in the international market."
JGST goes to market in the U.S. under the TBB brand, imported and distributed by Statewide Tires Inc. of West Covina, Calif. JGST opened its plant in Thailand in 2019.
Linglong said the "significant reduction in tax rates will greatly improve Thailand Linglong's operating capabilities and order acquisition" and will "quickly improve product competitiveness and help quickly seize market-share."
Linglong — which has been manufacturing tires in Thailand since 2014 under its LLIT (Thailand) Co. Ltd. subsidiary — set up a new U.S. sales subsidiary, Linglong N.A. Sales, last summer. Based in Palm Beach Gardens, the new company is led by former TBC Corp. executive Geoff Doster.
Article includes separate reporting by Tire Business.
