President Obama will place tariffs on imports of some Chinese tires for three years in an effort to curb a surge in exports that has rocked the U.S. tire industry.
The new tariffs will be on passenger car and light truck tires, the White House said in a statement Friday night. “The president decided to remedy the clear disruption to the U.S. tire industry based on the facts and the law in this case,” the statement said. The tariffs will start at 35 percent in the first year, then would decline to 30 percent in the second year and 25 percent in the third. Chinese leaders have in the past expressed displeasure about a possible tire tariff. “We hope the U.S. government will refrain from taking action, for the long-term healthy and stable development of U.S.-Chinese relations,” Fu Ziying, China’s vice commerce minister, told local media in August. “The case is neither supported by facts nor does it have valid legal grounds,” he added.