Obama invokes safeguards against Chinese tires: 35% tariff

The Obama administration will put steep import duties of 35% in the first year on Chinese passenger and light truck tires, responding to what the U.S. International Trade Commission determined to be a surge of Chinese tire exports that has rocked the domestic U.S. tire industry and displaced thousands of jobs, U.S. Trade Representative Ron Kirk announced Friday night.

China’s government responded quickly to the announcement, saying in a statement that it “strongly opposes” what it called “a serious act of trade protectionism.”

Thankfully these safeguards expire in 2013. Meanwhile, keep an eye out to see if a mob mentality develops.

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