U.S. President Barack Obama approved a three-year punitive tariff on small cars and light truck tires imported from China on September 11. The tax rates are as high as 35%, 30%, and 25%, respectively, and this tax rate was only 4%. . Once the special safeguard measures are implemented, Chinese tire companies will suffer a direct economic loss of US$1 billion and may completely withdraw from the US market.
The impact of special safeguard measures is not limited to the United States. The event will have a major impact on the long-term development of Chinese tire companies, and has become the focus of attention of all parties.
Listed company announced that the impact is not too large
With regard to the impact of the China-US Tire Special Protection Project on Chinese tire companies, several listed companies issued an announcement on the 15th. The announcement indicated that S-Gatcom was more affected, and the remaining companies had a larger share of the total income due to the U.S. market. Small, the situation is relatively optimistic.
In the announcement, S.Getter said that the United States is an important market for export products of Fujian Jiatong Tire Co., Ltd., which is controlled by the company. In 2008, the company’s passenger car and light truck tires sold in the US market accounted for 25% of its annual sales revenue. The sub-insurance measures will have an adverse effect on the company's U.S. operations, and the exact amount cannot be accurately estimated.
In an interview with a reporter, Wu Zhiwen, director of the company, Jia Tong Tire Co., Ltd., said in a telephone interview with reporters: “The case has a greater impact. The next steps include negotiations with the Ministry of Commerce and industry associations. The head office is doing the work. We cannot make on behalf of the head office. Reply."
In addition, the announcement issued by Nine Tire A stated that in 2008, the company’s operating revenue in the US market accounted for 2.45% of the total revenue, with a relatively low proportion, which had little direct impact on the company. The announcement of Qingdao Double Star also stated that from January to August of this year, the company’s export revenue to the United States accounted for less than 2% of total operating income.
Fengshen shares and double-money shares said in the announcement that the special security case had no impact on its operating income in the second half of the year.
However, all companies have also explained the adverse impact this may have on the company's exports to other countries. Due to the complexity of market transmission mechanisms, it is difficult to predict the specific changes in the future domestic related product markets.
As of the close of the 15th, the tire stocks have a certain increase, including double-dollar stocks limit after midday.
In the long run, it will have a significant adverse effect on the industry
The situation described above is just the case of several listed companies and does not represent the entire tire industry in China. Moreover, the announcements of listed companies have some factors that may placate market sentiment, and are affected by the upswing of the National Day and under the influence of the relevant funds. Tyre stocks did not show a sharp decline, but it is hard to say later.
According to customs statistics, in the first half of this year, China exported 130 million tires in total, including exports of tires of 33.07 million, 25.42 million, 17.77 million, and 16.08 million tires to the United States, the European Union, Africa, and Latin America, respectively. This shows that the US market exported Chinese tires. importance.
Some analysts believe that 40% of China's tires are exported, and one third of them are exported to the United States. The maximum tariff of 35% means that Chinese tires are unlikely to enter the US market. According to preliminary calculations, this will affect the employment of about 100,000 workers, and the direct economic loss will be as high as 1 billion US dollars.
The special safeguard measures of the United States will play a very bad leading role. If other countries directly quote the special safeguard measures of the United States, the Chinese tire exports will be all over the place. On May 18, India launched an investigation into the special insurance for passenger car tires in China. On June 18, the Brazilian Foreign Trade Commission decided to impose anti-dumping duties on radial tires for passenger and cargo vehicles imported from China. Now, with the help of the United States, China’s tire export situation will become increasingly severe.
Once the tire export is blocked to domestic sales, it will increase the competitive pressure in the domestic market; if the export price is increased, the competitiveness in the overseas market will be greatly reduced.
In view of the significant adverse impact on the tire industry, the Chinese government argues that it is likely to prosecute the United States in the WTO.
At present, many companies have begun to adjust their export tactics. Some have withdrawn from the US market and reopened their markets; some have begun to feel unwilling to raise prices; others have used domestic sales as the main direction for the future. All of these indicate that the special security case has already produced for the Chinese tire industry. The actual pressure effect.
Support policy is expected to come out
On the 16th, the reporters respectively telephoned Yu Tire and Qingdao Double Star, and the telephones of Yu Tire had not been answered, and his company’s website had been under maintenance. Qingdao Double Star told reporters: “The colleague who answered this question is not there.†Immediately after the phone was hung up, the reaction of the two companies to this matter made the reporter feel surprised.
In this special security case, Chinese tire companies actively responded, but they still failed to cling together to advance and retreat, and some companies were at a loss as to the unfavorable situation that they might face in the future. At this time, it is necessary for the government to support it.
Yao Jian, spokesman of the Ministry of Commerce, said at the press conference on the afternoon of the 15th that the Ministry of Commerce will work with the Ministry of Industry and Information Technology and relevant industry associations to study and formulate support measures for tires and upstream and downstream industries. Yao Jian pointed out that it will support the development of tire companies in three aspects: first, continue to negotiate; secondly, in conjunction with relevant departments such as the Ministry of Industry and Information Technology, and industry associations, research and formulate support measures including tires and upstream and downstream industries; and thirdly, support the tire industry. Further improve the industrial structure, promote the improvement of the technical level, and improve the product competitiveness.
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