The U.S. Department of Commerce is imposing a preliminary anti-subsidy tariff on car and truck tires from Vietnam, citing the Southeast Asian nation’s “undervalued currency” among the reasons for the decision.
It’s the first time the Commerce Department has based a countervailing duty on the value of a foreign currency, it said in a statement Wednesday. The tariffs range from 6.23% to 10.08%. U.S. imports of passenger tires from Vietnam were valued at about $469.6 million in 2019, the department said.
