Although the U.S. decision to charge higher tariffs on consumer tires produced in China has presented the country’s manufacturers and importers of the product with a sizeable hurdle, the Kasikorn Research Center, a subsidiary of Thailand’s Kasikorn Bank, believes the decision presents Thai exporters with a major opportunity to increase their marketshare.
The Bangkok Post reports that passenger car tires from Thailand previously sold for an average of $39.82 each in the U.S. market, compared with $30.96 for Chinese tires. Thai tires for small trucks were priced at $66.41, compared with $50.97 for Chinese units.
The 35% additional tariff that took effect on Sept. 26 elevate the price of Chinese tires to match those made in Thailand. The Kasikorn Research Center thus believes the export value of Thai tyres to the U.S. could potentially reach $225 million, well above the earlier estimate of $125 million. (Tyres & Accessories)
