·The United States intends to impose punitive tariffs on tires produced by Chinese companies

The United States intends to impose punitive tariffs on tires produced by Chinese companies in an attempt to avoid the reduction of jobs in the US tire industry and to take employment opportunities by Chinese counterparts. Following the launch of a new round of "double-reverse" investigation by the US in October this year, Chinese tire companies are facing severe challenges of being taxed. During the APEC in Beijing in the first half of this month, China and the United States reached a consensus on exempting tariffs on 200 technology products, but Sino-US trade barriers have not been reduced.

The US Department of Commerce announced preliminary results yesterday, saying that Chinese-made passenger cars and light truck tires were subsidized and received unfair preferential treatment. They should be punished with punitive tariffs. According to the manufacturer's specific conditions, the tax rate is 17.7-81.3%. Not waiting.

The US Tire Industry Federation "Steel Workers' Federation" (USW) previously accused China's exports of US tires last year to receive a total of US$2.1 billion in subsidies from Chinese government. Chinese companies dumped tires at a lower price than the fair value in the US market. On June 3 this year, under the USW application, the United States launched anti-dumping and countervailing investigations on Chinese passenger cars and light truck tires, involving more than $3 billion. The Daily Economic News reported last month that the Chinese tire industry is facing a tariff of 60%. The report quoted a person from a tire trading company in Qingdao as saying:

“Once the 'double reverse' ruling is released, it is 'requiring money' for American dealers. For most domestic tire companies, it is simply 'death'."

The Wall Street Journal reported that if the preliminary ruling of the US Department of Commerce is confirmed next year, the US branch of the Chinese company Cooper (Kunshan) Tire Co., Ltd. will face a tariff of 12.5% ​​if it wants to import the parent company's products.

As the country with the largest car ownership in the world, 50% of the US tires are imported, and it is also the most important overseas market for Chinese tires. Its imported tires account for about one-third of China's total tire exports.

US Customs statistics show that China’s US “double-reverse” survey of tires last year exported US$2.078 billion to the US, and exports in the first quarter of this year were US$510 million. However, due to the different customs tariffs between China and the United States, China Customs statistics show that the amount of tire products involved in China’s exports to the United States last year was 3.34 billion U.S. dollars, and more than 1,000 companies involved.

A foreign trade credit guarantee official told the Daily Economic News last month that the US “double-reverse” investigation has a conductive effect, and then the EU, Japan, India, and Australia may follow up, which may be a chain reaction.

After the preliminary ruling on the subsidies for the Chinese tire industry was announced on Monday, the US Department of Commerce will announce the preliminary investigation report on the Chinese tire anti-monopoly case in January next year. The US official will confirm whether to impose punitive tariffs for six months, and the Chinese government can appeal to the WTO within six months.

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