It didn't take long for tariffs to be implemented after the International Trade Commission reversed its stance on imported tires from China. As of Feb. 15, new tires from China are being subjected to tariffs.
President Donald Trump is "not ready to act" on threatened auto import tariffs following a Tuesday meeting with his top trade advisers, an anonymous source told Bloomberg.
President Donald Trump's executive order imposing tariffs on foreign steel and aluminum may translate to higher prices to commercial fleets for vehicles and truck or van equipment, fleet management company experts said.
One factor driving the deluge of Chinese exports of replacement truck tires to the U.S. is China's immense tire production overcapacity. In 2015, China manufactured 120 million tires, with an overcapacity rate of almost 25 percent. The influx of Chinese truck tires is also having a detrimental effect on the tire retreading industry, because many of these “bargain” tires have only one life because they cannot be retreaded.
Nigerian Vice-Presidential Candidate Yemi Osinbajo assured Nigerians that, if elected, the Maj. Gen. Muhammadu Buhari-led government will slash tariffs on imported vehicles.