Retail

Feds spare imported tire steel cord and bead wire from tariffs

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The federal government has decided not to impose trade restrictions on imported steel cord and bead wire used by domestic tiremakers.

Earlier this week, the U.S. International Trade Commission (ITC) admitted that domestic steel producers have been harmed due to imported steel.

"If the ITC had rules for the steel industry on tire cord and bead wire, the federal government would have had the authority to impose harsh tariffs or import quotas, which could have substantially increased tiremakers' costs and ultimately would have resulted in higher prices to the U.S. consumer," say Rubber Manufacturers Association officials.

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