By Alex Kapadia
Imports into the US of tyres made in China fell by more than half in October following the introduction of steep tariffs, according to new trade figures.
The number of tyres imported in October was 1.62 million, less than half the number imported in September.
The number of Chinese passenger tyres imported in October was 1.62 million, less than half the number imported the previous month.
The data, culled from Global Trade Atlas, shows the strength of the reaction to the Obama administrations decision to impose a 35% tax on tyres imported from China at the end of September.
Imports of Chinese passenger tyres started rising in July, topping 4 million units in a month for the first time, according to the data, and peaking at 4.54 million and 4.41 million units in August and September before tailing off in October.
The US raised duties on Chinese consumer tyres from four per cent to to 35 percent from from 26th September in response to a trade action brought earlier in the year by the United Steelworkers union.
The additional duties will fall to 30 and 25 percent in the second and third years of the period under scrutiny.