Low cost Chinese tires and other changes to the commercial tire market are forcing top-Tier OEMs and dealers to rethink the services they offer fleets today.
The Department of Commerce has outlined a process that would allow individual American businesses to apply for an exclusion from the tariffs on imported steel and aluminum recently enacted by the Trump administration.
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.
Associations representing manufacturers of vehicles and parts have spoken out against President Donald Trump's plan to place a 25% tariff on steel and a 10% tariff on aluminum imports.
The International Trade Commission upended the Chinese tire tariff investigation by voting against imposing tariffs on the products.
The U.S. Department of Commerce (DOC) says truck and bus tire manufacturers in China are dumping tires in the U.S. at less than fair market value, and those tires should be subject to tariffs of at least 20%. The tariffs are retroactive.
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.
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