Tire Special Protection Case Upgraded by the Ministry of Commerce

The tire special protection case that lasted for half a year has been upgraded further. On the 13th, after the Obama administration decided to impose a three-year punitive tariff on Chinese tires exported to the United States, the Ministry of Commerce initiated anti-dumping and anti-dumping measures against certain imported automotive products and broiler products originating in the United States in accordance with Chinese laws and WTO rules. Subsidy registration review process. While the share price of the domestic A-share tire sector has fallen sharply, the United States will also face heavy losses in its automotive products imported into the Chinese market.

In fact, in April this year, the US International Trade Commission launched an investigation into special insurance for Chinese tires exported to the United States. In June, the US International Trade Commission proposed to China to sell US tires to the US market. Tyre imposes so-called special safeguard measures to impose tariffs. U.S. President Barack Obama made a decision on the 11th of this month. From September 26, the United States will impose a three-year punitive tariff on all small cars and light truck tires imported from China. The tax rate is 35% for the first year, 30% for the second year and 25% for the third year.

A few hours after he made his decision, the Chinese Ministry of Commerce reacted and Commerce Minister Chen Deming made a rare statement, saying that the Chinese government reserves the right to make further responses and take appropriate measures. Yao Jian, spokesman of the Ministry of Commerce, also said on the 12th that Obama’s decision "has opened a very bad precedent in the context of the current world economic crisis." On the 13th, the Ministry of Commerce of the People's Republic of China stated that in accordance with Chinese laws and WTO rules, the anti-dumping and anti-subsidy case filing review procedures were initiated for certain imported automobile products and broiler chicken products originating in the United States.

Affected by this, China's A-share tire plate as a whole fell sharply. However, market participants believe that the share of exports of listed tire companies is not large, and these companies in the first half due to the decline in the cost of rubber has led to a substantial decline in the domestic demand for strong growth in automobile consumption has led to strong demand, resulting in significant growth in first-half results, Therefore, the special protection case has limited impact. Viewed from the perspective of product structure and export ratio, S-Gatton, Qingdao Double Star and ST Huanghai have relatively greater influence, while Aeolus Shares, Nguyen Tire and Shuang Qiang shares mainly carry heavy-duty tires and are less affected. Due to the lack of detailed data on the export of these companies to the United States, it is not yet possible to quantitatively measure the impact.

The person in charge of the Ministry of Commerce also pointed out that China has always firmly opposed trade protectionism. Since the financial crisis, China has proved this with its own practical actions. China is willing to continue to work together with other countries in the world to promote the recovery of the world economy as soon as possible.

The Big Three in the United States Losses

According to data released by the relevant US government agencies, in 2008, US exports of motor vehicles to China were US$1.848 billion. This trade war will undoubtedly have a greater impact on the United States' imports of Chinese automotive products.

In fact, just before Obama made a decision on September 8, US General Motors and Shanghai General Motors have just signed an export agreement. According to the agreement, General Motors will use Shanghai General Motors to export to the Chinese market a total of 607 million U.S. dollars worth of automotive products, including Buick, Chevrolet and Cadillac brands, as well as other components and mechanical equipment.

In today's US giants of the three major cars, in addition to parts of the General Motors, there are currently Biekangkelei [review picture forum], Cadillac almost all models are imported from the United States to China to sell. After the failure of localization of Chrysler in China, all cars currently sold in China are imported, most of which are produced in the United States. The Ford Motor Company, which has stopped importing business in China for many years, has not imported American-made cars into China. Only part of the components were imported into joint ventures for the production of complete vehicles, but this will also make it intended for 2009. The resumption of the import plan once again ran aground. If the anti-dumping investigation results of the Ministry of Commerce of China are established, these imported vehicles will be subject to high tariffs, and the prices of the products may rise, and their competitiveness will be lower than that of the Euro-Japan auto products.

In addition to the far-reaching impact on the three major automobile giants in the United States, the United States’ first-tier auto parts supplier will also suffer heavy losses. It is understood that in the domestic market, there are many first-class auto parts companies headquartered in the United States, such as Delphi, Visteon, BorgWarner, TRW, Honeywell, Eaton, etc. They not only give GM, Ford and other US Departments. Enterprises supply, but also to their own brand car prices.

The United States has four tire manufacturing companies in China, accounting for two-thirds of China’s tire exports to the United States. The special security case will also directly affect the interests of these US-funded enterprises. In addition, the work of 100,000 people engaged in the import, distribution, and transportation of tires in the United States will also be at risk.

tips

Anti-dumping: Refers to the resistance to the dumping of foreign goods in the domestic market. In general, foreign goods that are dumped are subject to general import duties, and additional taxes are added so that they cannot be sold at a low price. Such additional taxes are called "anti-dumping duties."

Countervailing: Refers to the acts and procedures of a national anti-dumping investigation agency to implement and implement anti-subsidy regulations. The subsidy refers to the financial or financial incentives provided by a government or any public agency to its domestic producers or exporters, including cash subsidies or other preferential treatment, so that their products are not subsidized in the international market. .

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