China’s Tire Exports to the U.S. Plummeted 30% in Q1, 2019

China’s Tire Exports to the U.S. Plummeted Nearly 30% in Q1, 2019

On April 10, the U.S. trade data company (Panjiva) indicated in the latest report that due to the Sino-U.S. trade war, the amount of tires imported from China by the U.S. decreased by 28.6% year-on-year from January to March 2019. The origins of imports have changed. It was learned that the main reason was the anti-dumping and countervailing policy.

At the same time, the amount of tires imported from Vietnam by the U.S. increased by 141.7% year-on-year. The amount of tires imported from South Korea increased by 11.1% year-on-year. Tire suppliers such as South Korea’s Nexans benefited from this, and their business has grown significantly.

The data company believes that the future U.S. tire imports will be turned to Vietnam, South Korea, Mexico, China’s Taiwan and other countries and regions. At the same time, U.S. companies are also changing their investment direction in order to prevent tariff risks.

In December 2018, the U.S. tire company Cooper Tire and the Safran Group’s subsidiary in Vietnam began to form a joint venture. The two sides intend to build a truck and bus radial tire factory in Ho Chi Minh City, Vietnam.

……

More detailed information, please click "Read more".