China's tire manufacturing industry is suffering from the WTO's recent unfavorable ruling.
The United States is now entitled to impose additional duties on imports of Chinese tires, the WTO said on September 12, upholding a 35-percent tariff ruling made in 2009.
Shandong Province, China's major tire exporter, saw its tire exports plunge by about 25 percent in 2010, the first year after the United States slapped punitive tariffs on Chinese tires for cars and light trucks.
"We used to export $50 million worth of tires for cars and light trucks to the United States, now we only export about $5 million, one 10th of what it used to be," said Wang Hai, President of Shandong-based Qingdao Doublestar Tire Co. Ltd. |