11/27/14 – 4:57 A.M.
A move by federal officials could have an impact on Cooper Tire & Rubber and its employees. The Courier reports the government is taking a step toward imposing tariffs on Chinese-made tires. By next week, U.S. companies will have to post preliminary tariffs on any Chinese-made tires they import to sell. Money from preliminary tariffs go to the government.
There are four preliminary tariff rates being implemented. Depending on the brand of Chinese tire, U.S. companies will have to pay an extra 12.5 percent, 15.69 percent, 17.69 percent, or 81.29 percent to import them.
The move comes as part of preliminary findings from the Commerce Department’s investigation into Chinese companies selling tires below their fair market value. The Chinese government has been accused of subsidizing the lower prices.
MORE: The Courier
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