While many businesses are still worried and struggling to find ways to deal with the news of the US increasing import taxes on goods from Vietnam, Southern Rubber Industry Joint Stock Company (CASUMINA) has proactively negotiated and exchanged with partners, investing in additional production lines to increase product exports to the US market.
Supplying nearly 24.5 million alloys and tires for domestic and export
Ms. Le Thu Huong - Head of the CASUMINA Import-Export Department - said that CASUMINA is a leading enterprise in the country in the field of supplying tire products for cars, motorbikes, electric vehicles, and specialized vehicles for the Vietnamese market and more than 30 countries in the world, including countries such as the US, Europe, Japan, and South Korea.
In 2024, CASUMINA has provided a total of nearly 24.5 million tire products of all kinds to the domestic and export markets with a total estimated value of nearly VND 4,982 billion. Of which, exports account for a high proportion of key product groups to more than 30 countries and territories such as: Seven motorbike tires (Casumina, Euromina) account for 22.6% of total consumption output; Seven truck tires (Casumina, Casumina radial, Euromina) account for 76.7% of total consumption output.
In the US market alone, on average, CASUMINA exports about 1.2 to 1.5 million tires of cars and steel trucks each year with an average revenue of about 45 million USD, accounting for 50% - 60% of total export value and 25% of CASUMINA's revenue value.
In early April, US President Donald Trump announced a 46% tax on imports from Vietnam as part of a new global tax (currently postponed for 90 days pending negotiations), which has made many Vietnamese businesses with exports to the US quite worried. CASUMINA was also affected by the information about the increase in the tax rate and in the first 2 weeks of April 2025, a customer of CASUMINA requested to temporarily suspend imports to wait for the results of tax negotiations between Vietnam and the US.
Exporting 600,000 more tire hammocks to the US market
In that situation, the Board of Directors of CASUMINA quickly contacted customers. After a short time of active exchanges and discussions, CASUMINA and customers have found a common voice in the spirit of harmonious interests for both sides. CASUMINA's tire exports to the US market have quickly resumed since the third week of April 2025 with the same output.
Not stopping there, the two sides also agreed to increase the export of 600,000 more CasUMINA tire products to the US market in two phases. In the immediate future, in August 2025, CASUMINA will export an additional 300,000 bancs to the US market.
At the same time, CASUMINA will invest in additional modern production lines and by June 2026, will continue to export about 300,000 more tires of all kinds to the US market. Thus, the total tire output of CASUMINA to be exported to the US market will be increased to about 1.8 to 2.1 million products/year.
Mr. Nguyen Dinh Khoat - General Director of CASUMINA - said that in its journey to conquer the market, CASUMINA identifies innovation and the application of science and technology as an important foundation to create breakthrough developments.
CASUMINA not only invests in more modern production lines but also orients a comprehensive transformation to the smart factory model - factory 4.0, where automation technologies, big data and artificial intelligence are deeply integrated into the production process. This model not only helps CasUMINA improve product quality and optimize costs, but also increases its ability to adapt quickly to fluctuations in the international market.
In the context of increasingly fierce global competition, proactively applying technology and creativity in management, production and marketing is a key factor for CASUMINA to continue to maintain its title as the leading tire manufacturer in Southeast Asia, affirming the position and strength of the Vietnamese brand in the international market, said Mr. Khoat.
