Giti Tire (USA) Inc. Raises Prices As Result of Duties

Giti Tire (USA) Inc. raised prices by 9.5% on all passenger and light truck tires (excluding ST tires) the company produces in China and sells in the U.S., effective Jan. 1, 2015.

The price increase is the result of the 11.74% adjusted countervailing duties imposed by the U.S. Department of Commerce on Giti Tire Fujian Co. Ltd. Giti was initially handed a 17.69% duty but appealed the accuracy of the calculations. The DOC reviewed its claims and announced in December that ministerial errors were made.

According to the tiremaker, the company held off on price increases from its distribution centers during the DOC appeal because its stock inventory was not subject to CVD action. That inventory is now depleted and the company must account for the impact of the duties on tires that cleared U.S. Customs effective Dec. 1, 2014.

The next DOC action is scheduled for Jan. 20, 2015, when it will decide if anti-dumping duties will be assessed against tires manufactured in China.

“Giti Tire is committed to the U.S. market, and we look forward to working closely with our dealers to provide American consumers great quality tires at affordable prices,” said Armand Allaire, executive vice president of sales and marketing for Giti Tire (USA) Inc.

The Goodyear Tire & Rubber Company has named Ryan Waldron as president of the company's Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on April 1.

"At Goodyear, our customers are at the center of everything we do, and in Ryan Waldron, we have a customer-centric, execution-focused business leader with a deep understanding of both the marketplace and all aspects of our business, as well as a proven track record of delivering results," Stewart said. "I am thrilled to announce him as president of Goodyear's Americas business and have enormous confidence that under his leadership, both the company and our customers will reach even greater levels of success."