The U.S. “double-reverse” investigation has affected this Chinese logistics equipment company!

Recently, CIMC Vehicles disclosed the latest progress of its subsidiary Vanguard Global Trailer Holding and its related companies’ participation in the anti-subsidy and anti-dumping investigations launched by the U.S. Department of Commerce against “Van-Type Trailers and Subassemblies Thereof” (van-type semi-trailers and their components).Among them, the results of preliminary rulings involving Chinese manufacturing companies show that Qingdao CIMC Refrigerated Truck Co., Ltd. was awarded a preliminary anti-subsidy tariff rate of 82.37% and an initial anti-dumping tariff rate of 130.76%. The related high tax rates have triggered market attention to the cost changes in the Sino-US cross-border logistics equipment supply chain.PART.01 The U.S. Department of Commerce announced the preliminary ruling. This investigation originated from the application submitted by the American Trailer Manufacturers Alliance to the U.S. International Trade Commission (ITC) and the U.S. Department of Commerce (DOC).On January 21, 2026, the U.S. Department of Commerce officially launched anti-dumping and countervailing investigations into van semi-trailers and components produced in China, Canada and Mexico.The scope of the investigation covers enclosed semi-trailers and related parts used to transport goods.Subsequently, the U.S. Department of Commerce successively announced the results of preliminary determinations.On June 2, 2026, the U.S. Department of Commerce announced the preliminary results of the anti-subsidy investigation into the products involved in China and Mexico.Among them, Qingdao CIMC Reefer Trailer Co., Ltd. and related companies received a subsidy tax rate of 82.37%; the tax rate for some non-cooperating companies reached 128.78%.On June 10, 2026, the U.S. Department of Commerce announced the preliminary results of the anti-dumping investigation of Chinese van semi-trailers, determining that the dumping margin of Chinese companies was 130.86%, and the adjusted cash deposit tax rate was 130.76%.01 The investigation is still not over. The final ruling will determine the actual impact. According to the US trade remedy procedures, the preliminary ruling results currently announced do not mean that the final tax rate has been determined.The U.S. Department of Commerce will continue to advance the final ruling process, and the U.S. International Trade Commission (USITC) will make a final judgment on whether imported products cause substantial damage to related U.S. industries.Previously, the USITC voted on February 6, 2026 to continue advancing the relevant investigation and determined that there was a reasonable possibility that the US industry would be harmed.According to the current schedule, the U.S. Department of Commerce is expected to announce the final anti-dumping and countervailing rulings on the products involved in China around August 25, 2026, and the final anti-dumping rulings on Canadian products are expected to be announced in December 2026.If both the Ministry of Commerce and the USITC make a final affirmative ruling, U.S. importers will subsequently pay relevant fees at the final tax rate.PART.02 CIMC accelerates production capacity layout in the United States CIMC Vehicles (301039.SZ) Announcement Facing the investigation on August 3, 2026, CIMC Vehicles stated that the group has established a special coordination team, established a project organization in the United States, and hired a team of professional lawyers to actively respond to relevant procedures.At the same time, the company continues to promote the production capacity upgrade of its U.S. factories, and the relevant upgrade work is now basically completed to reduce the possible impact of trade measures on the supply chain.From the perspective of industrial layout, the U.S. market is driving more auto parts and logistics equipment companies to accelerate localized production.For Chinese companies, overseas factories, regional supply chain reorganization and local manufacturing capacity building are becoming important ways to deal with trade barriers.PART.03 Industry Observation Although van semi-trailers belong to the logistics equipment link, they are connected to road transportation, warehousing and distribution, and cross-border trade systems.If the final "double-reverse" tax rate remains at a high level, the cost for U.S. importers to purchase Chinese-made trailers may increase significantly, and this may be passed on to downstream transportation companies, logistics service providers and end users.For Chinese logistics equipment manufacturing companies, the signal released by this investigation is that US trade protection measures are extending from the traditional commodity field to the transportation equipment and supply chain infrastructure fields.In the future, relevant Chinese companies need to further optimize their overseas manufacturing layout, while strengthening supply chain localization capabilities to reduce operational risks caused by changes in trade policies in a single region.