The United States International Trade Commission (ITC) recently decided to impose anti-dumping duties ranging from 12.33% to 48.39% on truck and bus tires (TBR) imported from Thailand. This decision directly impacts Thai tire manufacturers and exporters like Finixx Tyre, a global leader in OTR and TBR tire production based in Bangkok, Thailand.
At Finixx Tyre, we pride ourselves on producing high-quality, durable truck and bus tires, catering to markets worldwide, including the United States. However, the recent rulings could reshape market dynamics significantly.
What Led to the Anti-Dumping Duties?
In 2022, over 10 million units of TBR tires were exported from Thailand to the US, marking a 40% increase from 2021. This surge in imports, valued at $1.46 billion, raised concerns among US manufacturers. The United Steelworkers (USW) filed a petition, alleging that Thai-made TBR tires were being sold at less than fair value, hurting the domestic industry.
Following an investigation, the US Department of Commerce initially proposed a duty rate of 2.35% but later adjusted it to 48.39% for Bridgestone Corp. and 12.33% for other manufacturers.
How Does This Affect Finixx Tyre?
For Finixx Tyre, this development underscores the importance of adapting to changing trade regulations while maintaining our commitment to excellence. Here’s how we’re navigating the challenges:
- Diversifying Export Markets: While the US remains a significant market, we are expanding our reach in regions like Europe, the Middle East, and Africa.
- Commitment to Quality: Finixx Tyre continues to prioritize innovation and premium manufacturing practices to ensure our tires meet international standards.
- Collaborating with Global Partners: We are working closely with distributors and industry stakeholders to navigate the evolving trade landscape.
Why Choose Finixx Tyre?
As one of Thailand’s leading exporters of OTR and TBR truck tires, Finixx Tyre combines advanced technology with sustainable practices to deliver top-tier products. Our tires are engineered for durability, fuel efficiency, and safety, making them ideal for diverse terrains and weather conditions.
Adapting to the New Norm in US Trade
The ITC’s decision highlights the complexities of international trade but also offers opportunities for businesses like Finixx Tyre to innovate and adapt. By continuing to deliver exceptional value to our global customers, we aim to strengthen our position as a trusted name in the truck tire industry.
As the world grapples with evolving trade regulations, Finixx Tyre remains steadfast in its mission to drive the future of trucking with high-performance, eco-friendly tires made in Thailand.
Source: European Rubber Journal, Published: Nov. 12