Interview: U.S. Consumers to be Affected by Tariff Hike on Chinese Tires
    2009-09-24 09:20:20     Xinhua      Web Editor: Chu Daye
The U.S. government decision to impose tariff on Chinese imported tires will definitely affect American consumers, Richard Wottrich, a Chicago-based international business expert told Xinhua in an interview on Wednesday.
Audio

The U.S. government decision to impose tariff on Chinese imported tires will definitely affect American consumers, Richard Wottrich, a Chicago-based international business expert told Xinhua in an interview on Wednesday.

Wottrich, managing director, International at Dresner Partners, said "If you are a young mom working two jobs and driving a paid- for old clunker to make ends meet, you probably couldn't afford the new car required to get into the 'Cash for Clunkers' program. Well now your tires will get more expensive."

Wottrich has over 30 years experience in the financial services industry and has closed transactions in 15 countries, including initiating M&A transactions in China.

When commenting on the protectionism, Wottrich said "It is important that we remain pragmatic regarding protectionism. In a raging recession there will always be pressures to protect domestic industries. By the same token China has every right to protest if a particular tariff is perceived as unfair."

Wottrich hopes that this one tariff should not harm Chinese-U.S. trade relations. However, he said if the Obama administration continues with other tariffs, it would be a different story.

He further said the U.S. based tire companies import roughly 17 percent of their tires (46 million last year) from China and these tires represent the low end of the price spectrum at 50 U.S. dollars to 60 U.S. dollars per tire. This will hit the remaining U.S. manufacturers hard as well, Goodyear and Cooper, as they also make tires in China."

He said China and the United States need to develop an expansive and reasoned ability to work with one another because the two countries will lead the way into the latter half of this century and it is no one's best interests to have unreasonably conflicts between them.

Earlier this month, the Obama administration announced it would impose tariffs of up to 35 percent over the next three years on Chinese tires for cars and light trucks. The tariff, which will take effect Sept. 26, represents the first such case under the law for Obama.

The Chinese government has said that it is strongly opposing the trade protectionism by the United States.

Share

               


CRIENGLISH.com claims the copyright of all material and information produced originally by our staff. No person, organization and/or company shall reproduce, disseminate or broadcast the content in any manner whatsoever without the express written permission of CRIENGLISH.com.

CRIENGLISH.com holds neither liability nor responsibility for materials attributed to any other source. Such information is provided as reportage and dissemination of information but does not necessarily reflect the opinion of or endorsement by CRI.

 
Audio Reports more »
Biz Life more »
Policy more »
Markets more »

News
China
World
Politics
Business
Sports
Showbiz
Sci-tech
Photo
Recommended
China
World
Sports
Showbiz
Travel
Video
C4
The Sound Stage
Showbiz
Travel
China Revealed
My Chinese Life
Travel
Destinations
Photo Gallery
Recommended
Learn Chinese
"In" Chinese
Chatting in Chinese
Pop Culture
Traditional Culture
Living Chinese
Chinese Studio
Chinese Class
Learn English
Special English
Pop Chart
Everyday English
Fabulous Snaps
CRI News
China.org.cn  | Xinhua  | People's Daily Online   |  CNTV.cn  | China Daily  |  Global Times  | China Job  |  China Tibet Online  | Taiwan.cn  | eBeijing  | Beijing Today  | China-Eurasia Expo  | APEC Yiwu Conference  | Chinese Embassy in S.Africa  | Chinese Embassy in Australia  | Chinese Embassy in NZ