Tag: tariffs
US tyre cord makers could close due to steel tariffs
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.
Trump puts 25% import tariff on Chinese aircraft tyres
US president Donald Trump has announced plans to impose 25 per cent tariffs on US$50 billion worth of Chinese goods, according to various leading news sources. The tariffs affecting over 800 products including aircraft tyres and are due to come into effect on 6 July. The White House said it would consult on tariffs on the other $16 billion of products with a view to applying these later.
TBR tariffs: Giti displays two commercial tyres ‘Made in Indonesia’ at The Tire Cologne
Giti Tire has given its first indication of the measures it is taking to shore up its European position in light of the EU tariffs introduced on commercial vehicle tyre produced in China. Presenting two of its most popular tyres, including the Giti GTR955 Combi Road, with “Made in Indonesia” highlighted on their sidewalls, the manufacturer is showing it is capable of shifting European truck tyre production to its Tangerang manufacturing complex in Jakarta, following a development completed in late 2016.
Prometeon: no transfer of Aeolus production to Prometeon factories
Following statements from Aeolus suggesting "Aeolus moves production to Egypt and/or Turkey", Prometeon Tyre Group has announced that the project to transfer the production of tyres in the production plants of Prometeon Tyre Group, “is still under initial assessment by the two groups, as it is part of the broader integration project of the two companies”.
Hankook: ‘We are not affected’ by truck tyre tariffs
South Korea-based tyre manufacturer Hankook, which is a leading player in the UK truck tyre market in terms of unit volumes, has stated that it is not affected by the recently introduced European anti-Chinese truck tyre import tariffs. Commenting as part of a statement on the company’s current and ongoing exhibition plans, Tony Lee, Hankook Tire Europe vice president for marketing and sales said:
Tyre tariffs: Aeolus relocating production to Prometeon plants
Aeolus Tyre Co., Ltd. has emphasised its continued commitment to European markets. In a statement, the Chinese tyre maker describes its progress with the Aeolus brand within Europe as a “remarkable” achievement and stresses that the “unique position” it has claimed within the market will continue despite the introduction of anti-dumping duties. To facilitate this, some Aeolus tyre production will be relocated outside of China.
Thinking ahead: Hankook Tire preparing for IAA CV
Even though Hankook Tire is now – as are many within the tyre industry – making final preparations for next week’s The Tire Cologne, the tyre maker is already getting ready for the 2018 IAA Commercial Vehicles fair. Offering a sneak preview of what we can expect to see this September, it shares that the show in Hannover, Germany will host the world premiere of a new Hankook mixed on- and off-road tyre line-up that includes steer, drive and trailer axle fitments. Hankook Tire also intends to announce further growth in its business with truck OEMs.
Tariff fightback? What importers and associations are doing in response to European anti-Chinese truck tyre duties
It is clear that European anti-truck tyre tariffs are already having marked impact on the shape of the market. This is putting pressure on affected importers and manufacturers alike, but – as we have seen elsewhere in this feature – it could also lead to price increases and product shortages. Here Tyres & Accessories takes a closer look at the issue and what is being done in response based on contributions of industry associations such as the NTDA and ITMA as well as key industry figures.
Truck tyre tariffs to end Chinese import tsunami
The EU’s decision to implement import tariffs on Chinese-produced truck tyres marks a sea-change in both the truck tyre market in general and European governments’ approach to the subject in particular. As of the 8 May 2018, truck tyres produced in China and imported into the UK have become between 52.85 euros and 82.17 euros per tyre more expensive than before. And what’s more, with product registration having begun back in February 2018, such charges look likely to be backdated to February on tyres already sold. This cannot fail to have an enormous impact, but what exactly will it mean for the truck tyre sector?
DOC reduces Guizhou Tyre duty rate
The US Department of Commerce (DOC) has revised its countervailing duty rate for Guizhou Tyre. According to the 13 April 2018 edition of the US government’s Federal Register, the new rate for Guizhou is 31.49 per cent down from a rate of 39.10 per cent that the DOC assessed in October 2017.
5 OTR tyre firms remanded to US Department of Commerce
The US Court of International Trade (CIT) has remanded five Chinese OTR tyre importers to the Department of Commerce (DOC). This means an antidumping duty determination against the five firms and has been made and DOC has been ordered to recalculate the antidumping margins it issued against them in a 2016 administrative review.
US reduces Chinese-produced car tyre tariffs
While US President Donald Trump may be talking up the benefits of a trade way, after reviewing certain tariffs on passenger and light truck (PLT) tyres imported from China, the US Department of Commerce (DOC) has adjusted some of its antidumping and countervailing rates. Reductions in the antidumping tariffs for the period from 27 January 2015 through 31 July 2016 include the rate for Giti Tire dropping from 30.74 per cent to 1.5 per cent and Qingdao Sentury Tire dropping from 25.84 per cent to 4.41 per cent.
EU begins registering Chinese truck tyre imports
On 1 February the European Commission began implementing regulation (EU) 2018/163, making imports of new and retreaded commercial vehicle tyres originating from China subject to registration. The news follows the initiation of anti-dumping proceedings on 11 August 2017 and anti-subsidy proceedings on 14 October 2017.
India introduces Chinese anti-dumping tariffs
India’s Ministry of Finance has imposed an anti-dumping duty on truck and bus radial (TBR) tyres imported from China. The duty ranges from $245.35 - $452.33 per ton, according to a notification from the Central Board Excise and Customs (CBEC), and has been applied to “new pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having nominal rim diameter code above 16 (inch)”.
Sainsbury’s, Asda and truck tyre tariffs
At the end of April the UK’s second largest supermarket Sainsbury’s announced that it is merging with the Walmart-owned Asda supermarket. The goal? To push first-placed Tesco off the top-spot and to give the newly combined chain better access to different geographic areas and consumers. Strange as it may seem at first glance, this story can be read across to the tyre market in general and the truck tyre segment in particular (click here for complete coverage on developments associated with the recently initiated European anti-Chinese truck tyre import tariffs).
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