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There will be 30 tire companies in China due to the US special safeguard case
Although the Ministry of Commerce has initiated the WTO dispute settlement procedure on the United States' special safeguard measures for restricting the import of China's tires and has proposed consultations with the other party, it is an indisputable fact that this case has caused losses to Chinese tire companies. The industry generally believes that if it imposes a levy of 35%, it will cause China's export tires to be severely hampered and unable to be exported to the United States. In this regard, the CCFA expects that there will be 30 or so tire companies in the country will cut production or suspend production, and the employment of nearly 100,000 workers will be affected. In order to minimize the damage, the China Rubber Industry Association formally released proposals for dealing with high tariffs for special tires imported into the United States, including raising the tax rebate rate for tires, lowering the import tariff of natural rubber, and further increasing the import of products to the United States. "Countermeasures" and so on.