Toyo USA recently announced that it would start raising prices for many of its tires from January 1.
In toyo tyres, the price hike is inextricably linked to the Chinese market on the other side of the world.
Nearly half a year, the tire market in the United States set off a trend of rising prices, a number of international brands of tires.
According to foreign media, the price hike of toyo tires includes 8 series of patterns, among which, the price increase of some commercial truck tires was 2%, while the increase of passenger cars and light truck tires was not released publicly.
Recently, nexen tire (United States) and Alliance tire (United States) two tire companies, issued a price increase notice.
From November 1, prices for brands such as Alliance, Galaxy, Primex rose 4 per cent in the us market.Nexen passenger cars and light truck tires, up a maximum of 6 percent.
In addition, from October 1, jinhu tire, bridgestone, cooper tire prices in the United States between 3.5 percent and 6 percent.
Earlier, Goodyear, sumitomo rubber, yokohama rubber (yukhao ma), triburg, and Camso and Carlstar announced price increases for tires in the U.S. market.
According to the analysis, in addition to raw material price rise factors, this price rise is closely related to the reduction of Chinese tire exports, as well as the expectation of future tax increase.
Randy gaetz summed up the reasons for rising tire prices, saying that market dynamics and government action were the two main reasons.
The "act of government" here refers to the U.S. government's tax policy.
Chinese tires no more?
It is understood that the growing trade friction between China and the us has a significant impact on the import and export of tires between the two countries.
Currently, the us carries out "double reverse" measures on imports of non-road tires (OTR), passenger cars and light truck tires from China.
According to the latest annual review, us taxes on passenger cars and light tyres will rise several times from next year, to more than 100 per cent.