On November 8th, the United States International Trade Commission (USITC) voted to rule that truck and bus tires imported from Thailand were sold in the United States at prices below fair value, causing significant damage to American industry. Therefore, TBR tires shipped from Thailand to the United States will be subject to tariffs.
Thailand, as the largest source country for imported truck tires in the US market, will soon be subject to tariffs on these imported tires. Most tire manufacturers and importers will be subject to a 12.33% tariff, but Bridgestone will pay a 48.39% tariff for its tires imported into the United States.
This ruling has been brewing for a year, stemming from a petition submitted by the United Steelworkers in October 2023, calling for the imposition of these tariffs on TBR imported from Thailand.
Almost a year ago, union leaders from TBR production bases in the United States testified that imported products threatened the livelihoods of all union members and tariffs were needed to prevent the influx of imported tires.
The public report "Thai Truck and Bus Tires" by USITC, with investigation number 731-TA-1658 (final), will be published in the November 2024 publication 5562 of the US International Trade Commission and will include the Commission's opinions and information obtained during the investigation.
Ironically, on the day before USITC members voted 4-0 in favor of the union's request, a unionized factory announced that it would permanently shut down, namely Sumitomo Rubber Industries, Ltd., which announced on November 7th that it would cease all tire production at its factory near Buffalo, New York. This factory produces commercial truck tires, passenger car tires, and motorcycle tires.