As the accelerating Chinese tire security case entered the verdict, countdown, the tireless American tire company finally stood up. Yesterday, Coopertire, the second largest tire company in the United States, issued a statement saying that Cooper believes that the US International Trade Commission’s proposed special safeguard measures for Chinese tires is inappropriate and unacceptable and will not only bring serious Negative effects, and may not be able to achieve the problems the association wants to solve.
Cooper Tire said yesterday that it has met with the U.S. Department of Trade Representative's China Affairs Assistant and suggested that U.S. Trade Representatives not implement the draft proposed by the U.S. International Trade Commission.
Cai Weimin, secretary-general of the Rubber Industry Association of China's Rubber Industry Association, welcomed this and hoped that more tire companies could stand up. However, the United States’ largest tire company, Goodyear Tire, still chooses to remain silent.
Cooper Tire has invested more than US$25 million in China. In 2006, the company formally entered the Chinese market by acquiring a 51% stake in Chengshan Group, China's third-largest tire manufacturer, and settled its Asia Pacific headquarters in Shanghai. Subsequently, the company and Jianda Industrial Co., Ltd. established a joint venture factory in Kunshan, Jiangsu Province, which mainly produces passenger cars and light truck radial tires. Cooper holds 50% of the shares. Cooper said that the Kunshan plant was put into operation last year and all products were exported to North America. According to the agreement with the local government when building a factory, the tires produced within the first five years after the plant was built must be exported. The plant is also Cooper's largest and most advanced plant in the world.
If the United States applies special safeguard measures to Chinese tires exported to the US, Cooper tires are also victims.
"Currently, Cooper China's tire exports account for 45% of the total, of which the United States is the main importer." Cooper stakeholders told reporters yesterday.
It is reported that Cooper has recently closed a factory in the United States. Currently, there are still four factories in the United States and one in Mexico.
“Last year, we had revenues of nearly 5 billion yuan in China. A large part of Cooper's global revenue comes from China's business.†Cao Kechang, president of Cooper Asia Pacific, revealed that Cooper’s goal in China is to maintain revenue for the next few years. The number grows.
Zhong Shan, Vice Minister of Commerce of the People's Republic of China, negotiated and negotiated with the relevant U.S. authorities on the special tire security case on the 17th and the 18th, expressing the Chinese government’s high concern about the case and its opposition to the U.S. taking special safeguard measures.
View related topics: China and the United States tire special security case
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