Akron, Ohio – US tariffs on Chinese tire imports are having a major impact on the country’s passenger car tire market and look set to do likewise in the commercial vehicle segment, according to a report in Tire Business.
Imports of Chinese passenger and light truck tires fell by more than 80% over the last four years, to 8.5 million tires last year from 50.4 million in 2014, said ERJ's US-based sister publication
The share of the US passenger tire aftermarket taken by tires from China collapsed, has consequently shrunk to 3.9% from 24.4% over that period, Tire Business also estimated.
The industry is now looking at the potential impact of anti-dumping and countervailing duties imposed in February on truck and bus tires from China, the report pointed out.
The duties, which range from 20.98% to 63.34% countervailing and 9% to 22.57% anti-dumping, took effect in mid-February.
While it is still too early to gauge the impact, Tire Business said recent indications suggest that the commercial tire segment may mimic changes seen in the passenger car tire market.
Other recent tariff actions by the Trump administration “are compounding problems facing importers and add a wild card into the task of forecasting market changes,” the report added.