Cooper responds to tariffs on Chinese-made tires
Cooper Tire & Rubber Co. was one of two domestic tire manufacturers to take sides on the issue of increasing tariffs on Chinese consumer tire imports. Both Cooper and Toyo Tire Holdings of Americas Inc. came out against imposing additional tariffs.
Following President Barack Obama's decision to increase the tariffs (see President sets first-year tariffs at 35%"), Cooper released a statement saying that it will not only "fully comply" with the president's decision, but also continue to be "a strong supporter of free and fair trade."
In its official statement, Cooper said the following
"Cooper’s priority is to continue to meet customers’ needs while balancing the reality of these new business challenges. The company will act quickly and appropriately to this decision as contingency planning has been under way.
"We are currently assessing our options and will keep all stakeholders informed of decisions as appropriate."