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U.S. slaps duties on Vietnamese tires over undervalued currency

WASHINGTON, Nov 4 (Reuters) - The U.S. Commerce Department on Thursday slapped preliminary countervailing duties of 6.23% to 10.08% on imported light vehicle tires from Vietnam, applying for the first time a new rule to combat undervalued currencies.

The new duties will apply to imported passenger vehicle and light truck tire imports of $469.6 million annually, with a final injury determination due by April 30, 2021, Commerce said in a statement. The department also is conducting anti-dumping duty investigations of light vehicle tires from Vietnam, South Korea, Taiwan, and Thailand and said it expects to announce those preliminary results on Dec. 29. (Reporting by Susan Heavey and David Lawder; Editing by Tom Brown)

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