On May 24, 2021, The Department of Commerce (Commerce) announced its affirmative final determinations in the antidumping duty (AD) investigation and countervailing duty (CVD) investigation of passenger vehicle and light truck tires (PVLT). Notably, in the CVD investigation, Commerce found that exporters from Vietnam received subsidies including through undervalued currency exchange rates. This is the first time that the Currency Rule was used in an affirmative final determination and only the second time the rule has been used in a CVD investigation.

The determination follows an August 2020 decision by Commerce to accepted evidence related to currency undervaluation under regulations from a valuation assessment conducted by the Treasury Department.

The final decision fact sheet is available here.

For more information on the Currency Rule please reach out to our team and see previous posts below.

https://www.cmtradelaw.com/2020/10/ustr-launches-section-301-investigation-targeting-imports-from-vietnam/