WASHINGTON—One has to wonder: When, if ever, will the growth of imports of tires to the U.S. peak?
After gaining over 18 percent in value in 2021 over 2020, the value of imports last year shot up an unprecedented 54.9 percent over 2021 to $19.6 billion.
Much of the gain can be attributed to the medium truck/bus tire category, where units imported jumped 37.9 percent and the corresponding value rose 45.2 percent.
The increase also reflects the general impact of inflation and rising tire prices, as values were up measurably more than unit gains, according to Rubber News sister publication Tire Business' analysis of the U.S. Department of Commerce figures.