Rubber Product Trade Deficit Soars

A top official from a US industry advocacy group, US Business and Industry Council, said that the US trade deficit, particularly with China, has increased exponentially over the last 15 years. Among the most vulnerable of manufactured goods were tyres and rubber products. Figures from the US International Trade Commission show that total tyre imports to the USA totaled $9.64 bn in pre-inflation dollars in2008. Imports declined to $8.1 bn in 2009, but increased to $10.6 bn in 2010 and $13.2 bn in 2011. In Jan-Nov 2012, the latest dates available, US tyre imports were up 13.2% year on year to $13.3 bn. The total import penetration rate in the tyre market fell slightly in2010-2011, from 48.7% to 48.6%. The overall US tyre production inpre-inflation dollars increased 25% in 2010-2011, versus a 24.5% increase in imports. However, the import penetration figures are not so impressive when monitored over time. Original Source: European Rubber Journal, http://www.european-rubber-journal.com/, Copyright Crain Communications Ltd 2013.