American jobs, Chinese tires or trade war?

Filed under: China, Goodyear Tire and Rubber (GT), Stocks to Buy

The Obama administration has announced that it is imposing tariffs on Chinese tire imports. The three-year plan will be have 35% tariffs the first year, 30% tariffs the second year, and 25% tariffs the third year.

This is good news for U.S. tire manufacturers and bad news for Chinese tire makers. American consumers will pay more for tires over the next three years than they would if they could buy cheap Chinese tires, but it will be a benefit for U.S. big labor and domestic tire makers as their products will be more competitive.

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American jobs, Chinese tires or trade war? originally appeared on BloggingStocks on Sun, 13 Sep 2009 13:40:00 EST. Please see our terms for use of feeds.

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