WTO to Investigate Chinese Tire Tariffs

1/11/2010

The World Trade Organization said Monday it is going to investigate American import taxes on Chinese tire.

A three-year tariff was approved by President Obama in September to help protect jobs in the American tire business. The tariffs include a 35 percent charge on top of an already-in-place 4 percent tariff.

In 2008, 46 million Chinese tires, or 17 percent of the market, were imported into the U.S.

Companies that stand to gain from keeping the tariff in place include the four biggest tire companies in the U.S. – Goodyear (NYSE:GT), Bridgestone, which trades on pink sheets, Michelin, which has a French parent, and Cooper Tire & Rubber.