RMA: 'Tariffs may drive up steel wire rod costs'
A recent federal trade panel decision to raise tariffs on imported steel wire rod may mean higher costs for tiremakers, according to Rubber Manufacturers Association (RMA) officials.
United States-based manufacturers "depend on imported steel wire rod because the quality of domestically produced rod is not suitable for tire manufacturing," says Ann Wilson, RMA senior vice president, government affairs.
The International Trade Commission (ITC) voted to approve tariffs as high as 369%.
"The ITC ruling that imported steel wire rod imports from Brazil, Canada, Mexico, Ukraine and Moldava were hurting U.S. producers allows the U.S. Commerce Department to impose tariffs on steel wire rod from those nations," say RMA officials.