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U.S. Imposes New Tariffs on Chinese Tires
he U.S. Dept. of Commerce has set punitive import duties of as much as 100% on certain car and light-truck tires imported from China after ruling the tires were being sold at below-market value, Reuters reports.
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The U.S. Dept. of Commerce has set punitive import duties of as much as 100% on certain car and light-truck tires imported from China after ruling the tires were being sold at below-market value, Reuters reports.
The three producers affected by the tariffs are Shandong Yongsheng Rubber Group, Cooper Kunshan Tire and Giti Tire.
Tariffs on Chinese tires aren't new. In 2009 the U.S. began imposing a 35% tariff on all Chinese-made passenger tires after the U.S. International Trade Commission ruled the country guilty of dumping tires in the American market at below-cost prices.
The new tariffs await a final decision in July by the ITC.
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