The recent wave of tariffs imposed by the Trump administration is set to significantly impact the rubber and tire industry in the United States. Analysts predict that tire prices will rise substantially due to these tariffs, which target key exporting countries such as Thailand, Indonesia, Vietnam, and South Korea.
A record 63.4% of tires sold in the U.S. last year were imported. With tariffs ranging from 26% to 46% on tires from these countries, consumers can expect higher prices at the checkout. JPMorgan analysts have warned that the full effect of these price increases may not be felt immediately, as companies stocked up on tires before the tariffs were announced
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