New Trade Deal With China May Impact Tyres
(Tire Review/Akron) In a new trade deal, China will eliminate “improper” trade subsidies it was allegedly using to prop up profitable trade with the US, to the detriment of local and foreign companies. The deal was announced earlier this week by US Trade Representative Susan Schwab, who called it a major breakthrough.
In the deal, China will eliminate WTO-illegal tax breaks that aided Chinese companies exporting to the US and other countries, and end taxes and tariffs that harmed reciprocal trade with China. There was no immediate word how the agreement will impact the import or export of tyres and tyre-related products.