President Donald Trump has once again threatened to increase tariffs on Chinese products imported into the U.S., and the Auto Care Association has repeated its plea that Trump change course.
One manufacturer of off-the-road tires in China sought a review of the tariff rate it’s paying to import tires into the U.S. And it paid off.
It didn't take long for the truck tire tariffs to be implemented. On Jan. 30, 2019, the International Trade Commission reversed an earlier decision and ruled the U.S. tire market was being harmed by the importing of truck and bus tires from China.
The last chapter on whether or not truck and bus tires imported from China have negatively impacted domestic tire manufacturers -- and retreaders -- has not been written.
Cooper Tire & Rubber Co. posted net income of $54 million on net sales of $738 million for its third quarter ended Sept. 30, 2018. That compares to income $62 million on sales of $734 million for the same period last year.
Titan International Inc. posted net income of $5.7 million on net sales of $429 million for the second quarter ended June 30, 2018. That compares to a net loss of $6.5 million on sales of $365 million for the same period last year.
The U.S. Court of International Trade has overturned a previous tariff order by the Department of Commerce (DOC). The result: off-the-road tires imported from Sri Lanka are not subject to tariffs.
The United States Department of Commerce hosted a government hearing on the Section 232 National Security Investigation of Imports of Automobiles and Automotive Parts on Thursday, July 19, 2018. One tire industry executive made sure his voice was heard.
The Auto Care Association is urging the Trump administration to consider the severity of unintended consequences that may ensue by imposing tariffs on imported autos and auto parts.
On Thursday, the Trump Administration imposed tariffs on steel and aluminum imported from Canada, Mexico and the European Union. The U.S. Tire Manufacturers Association (USTMA) wasted no time responding.
There’s been another adjustment to the tariff rates charged on passenger and light truck tires imported from China. The rates, which were lowered in March, have been adjusted downward again.
In America it has been a common practice for a few years now, but finally Europe is looking toward implementing import tariffs on all new and retreaded commercial vehicle tires that are manufactured in China.
Of the 1,300 Chinese products the U.S. Trade Representative has recommended should be subject to an additional 25% tariff, there are some tires on the list. But there are also items critical to the manufacturing and retreading of tires.