FINDLAY, Ohio (Sept. 18, 2009)—Cooper Tire & Rubber Co., reacting to the pending increase in tariffs on consumer tires from China, is raising prices on most of its passenger and light truck tire lines by up to 12 percent.
The increases vary by line, the company said, with most but not all product lines affected. The increases take effect “soon,” the firm said.
Cooper sources passenger and light truck tires for its U.S. customers from two factories in China: its own plant in Chengshan, China, and a 50-50 joint venture with Taiwan's Kenda Rubber Industrial Co. Ltd. in Kunshan, China, that has been producing Cooper-brand tires since February 2008.
Cooper did not disclose how many tires it imports from China.
The White House decided to impose tariffs on Chinese consumer tires—35 percent ad valorem for the year starting Sept. 26, and 30 and 25 percent, respectively, in the second and third years—Sept. 11 in response to a petition filed in April by the United Steelworkers Union asking for quotas on Chinese tires.
The USW filed its petition in response to thousands of job losses the past few years due, it claimed, to the rapid increase in tires imported from China.