News from Notch Consulting, Inc.

September 12, 2009

President Obama Imposes 35% Tariff on Imports of Chinese Tires

Filed under: Tires — Notch @ 12:51 am

President Obama has placed tariffs of 35% on passenger and light truck tires from China, siding with the United Steelworkers Union and other labor groups, which had filed a complaint that surging imports were eliminating US manufacturing jobs. The duties will begin September 26 and last for three years, dropping 5% per year (i.e., they will decline to 30% the second year and 25% the third year). The tariffs were lower than those suggested by the International Trade Commission, which recommended tariffs of 55% the first year, 45% the second, and 35% the third. The new tariffs are in addition to an existing 4% duty on all Chinese passenger and light truck tires.

Bloomberg on the story.
The Washington Post on the story.
The Wall Street Journal on the story.

Powered by WordPress.com.