Titan applauds Department of Commerce's findings
The United States Department of Commerce's preliminary determination that the Chinese government is subsidizing Chinese OTR tiremakers "sends a signal to producers in China that they have to start playing by the rules of the game just like everyone else," says Titan International Inc. Chairman and CEO Morry Taylor.
The Department of Commerce has made a preliminary determination that Chinese OTR tire manufacturers have received subsidies from the Chinese government ranging from slightly more than 2% to around 6.5%.
"Tire producers in China benefit from government subsidies that give them an illegitimate advantage in our market," says Taylor.
"We are hopeful that more accurate information on the full scope of subsidies will be collected as the investigation proceeds."