After more than a decade of continuous "crackdown" on Chinese tires, the United States recently struck again, this time targeting Chinese truck and bus tires. In this regard, Sailun Tire (601058. SH), Mori Kirin (002984. SZ) and other tire companies told the Financial Associated Press reporter that the company's products exported to North America are basically shipped from overseas production bases, and the increase in the "double anti" policy in the United States will not affect the company.
On January 2, 2024, the U.S. Department of Commerce announced the launch of the first antidumping and countervailing sunset review investigation of truck and bus tires imported from China. At the same time, the U.S. International Trade Commission (ITC) launched the first "anti-dumping" sunset review industrial injury investigation for the above-mentioned products involved in the case.
In this regard, the relevant person in charge of a tire company in Shandong said that the new direction of US sanctions is the end of the crossbow and will not have any impact on the company. The relevant person in charge of Sailun Tire also said that the company's PCR products sold to the United States are basically exported from Vietnam and Cambodia, and even if the new round of sanctions in the United States is implemented, it will not have a substantial impact on the company's performance.
In addition, the industry said that domestic tire companies have rich experience in dealing with overseas "double reversal", especially the industry head enterprises have initially completed the layout of the global production base, and the number of tires exported from China to the United States has been greatly reduced, and the lethality of the United States' "double anti" policy is very limited.
According to industry public data, since 2015, the United States has imposed a high "double reversal" tax on some Chinese tires, and the number of tires exported to the United States has declined significantly, and the number of tires exported to the United States has decreased from 20% in 2014 to 7.6% in 2022.
In order to grasp important consumer markets such as Europe and the United States and avoid risks brought by trade policy fluctuations, Chinese inner tire enterprises have actively laid out overseas bases in recent years to improve their ability to resist risks. Among them, Senkylin owns and plans three bases in Thailand, Morocco and Spain; The company continues to expand its production capacity in Vietnam and Cambodia, and plans to build a plant in Mexico; Linglong Tire (601966.SH) also has two overseas bases in Thailand and Serbia.
According to the requirements of the US Department of Commerce, the main content of its review is whether the import of the products involved will continue or recur to cause material damage to the US industry. Interested parties are required to register their response with the US Department of Commerce within 10 days from the date of the announcement, and submit their response comments to the US International Trade Commission by February 1, 2024.
According to the data, in 2016, the U.S. Department of Commerce launched a "double reversal" investigation on China's TBR products. In February 2019, anti-dumping duties and countervailing duties were imposed on the Chinese products involved in the case.
Earlier, from 2009 to 2012, the United States carried out the first round of sniping on Chinese tires with the help of the tire special insurance case: on June 29, 2009, the U.S. International Trade Commission proposed to impose ad valorem special tariffs of 55%, 45% and 35% on Chinese PCR and TBR tires exported to the United States for three consecutive years.
