10% tariff increase, imminent! What to do with tires?
According to foreign media reports, on March 3rd, Eastern Time, the United States announced that it would impose another 10% tariff on Chinese products exported to the United States from March 4th on the grounds of fentanyl and other issues. China is strongly dissatisfied with this and firmly opposes it. It will take countermeasures to firmly safeguard its own rights and interests.
China urges the United States to respect the rights and interests of other countries and immediately withdraw its unreasonable and unfounded unilateral tariff measures that harm others and do not benefit itself. It is hoped that the United States will look at and deal with the problem objectively and rationally, and return to the right track of properly resolving differences through equal dialogue as soon as possible.
1. The United States imposes a 25% tariff on Canada and Mexico
On February 1st, local time, the US government announced that it would impose a 25% tariff on imports from Canada and Mexico. US President Trump signed a tariff order on the same day, imposing an additional 25% tariff on imports from Canada and Mexico and a 10% tariff on energy resources from Canada. The tariff is tentatively scheduled to take effect on the 4th. The White House said that if the US tariffs are retaliated, the US may increase the intensity of tariffs.
2. The United States imposes additional tariffs on Thailand
Not long ago, the final ruling issued by the U.S. Department of Commerce was like a bolt from the blue. Anti-dumping duties of 12.33%-48.39% were imposed on truck and bus tires imported from Thailand. This series of measures is very sinister. Because the adjustment of the U.S. tariffs on Thai truck and bus tires and the imposition of tariffs on Mexico are likely to cut off the way for Chinese tire companies to re-export through Thailand and Mexico. The seemingly smooth trade channel suddenly became full of dangers.
Wherever Chinese tires go, tariffs will be increased
In order to gain a foothold in the fiercely competitive U.S. tire market, domestic tire companies have been working hard in the past two years and have invested in factories in Thailand, Cambodia, Vietnam and Mexico. But after Trump came to power again, a new round of trade wars began, which is bad news for Chinese tire companies that have built factories overseas.
Chinese tires are gradually losing their voice in the United States
Trump had already made harsh remarks when he ran for election. He claimed to take more radical tariff measures, which is not a simple verbal threat. Among them, for Chinese tires, it not only means the sword of Damocles hanging high in the air, which is the direct imposition of tariffs, but also its impact will spread like ripples, impacting countries related to the Chinese tire export industry chain.
The entire international tire trade market is in panic because of his remarks. What's worse is that, in addition to the center of the storm, the United States, Chinese tires have suffered the nightmare of "global ban" worldwide.
Brazil, Thailand, South Africa, the European Union, Mexico, Eurasia and other countries and regions, like a group of sharks smelling blood, have launched anti-dumping investigations on various Chinese tires.
The global trade war is like a raging prairie fire, which continues to escalate, and Chinese tires are facing the most comprehensive siege in history. This is like a cruel wheel war, and Chinese tire companies are surrounded on all sides.
