US tyre cord makers could close due to steel tariffs

Tyre cord production in the US relies on imports of steel rods in order to make steel tyre cord (pictured). Without these imports US factories could be priced out of the market by other international suppliers

In mid-June US president Donald Trump announced plans to impose 25 per cent tariffs on US$50 billion worth of Chinese goods. However, the above round of tariffs was actually an additional wave that followed as part of the Trump administration’s ongoing trade war with China. Steel is at the centre of this dispute, with President Trump suggesting that China is dumping steel in America. But now US tyre cord makers could close due to steel tariffs.

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