Posted on Fri, Sep. 25, 2009
last updated: September 25, 2009 03:22:53 PM
BRADENTON — Fred Glass has already begun to shop for new tire suppliers.
The owner of Factory Tire Outlet in Bradenton can't afford to increase prices in this economy, but if he continues to order tires from China he says heíll have no other choice.
Thatís because starting Saturday, a 35 percent tariff will be assessed on tires imported from China.
It's part of a three-year trade policy plan the Obama Administration adopted Sept. 11 to limit imports that jeopardize U.S. jobs.
In the second year, the tax on Chinese tires will be 30 percent, and in the third year it will be 25 percent.
Glass said the tax is no good for local tire shops like his.
"I have to try to find tires from some other suppliers," said Glass, who estimates about 40 percent of his tires are from China. "I'm not going to buy Chinese tires and pay 35 percent more. Every time there's a price increase it hurts your sales."
Read the complete story at bradenton.com