Rubber alert-2

Rubber Slumps Most in 8 Months after U.S. Imposes Tire Tariffs
Tokyo: Rubber slumped by the most in eight month after President Barack Obama imposed tariffs on tire imports from China, spurring concern demand in the world’s largest consumer of the commodity may decline.

Futures in Tokyo fell as much as 7.8 percent, the biggest decline since Jan. 13. The U.S. placed tariffs of 35 percent on $1.8 billion of tires from China, acting on a union complaint that imports were pushing U.S. workers out of jobs. China announced yesterday a probe into the alleged dumping of American auto and chicken products, two days after the U.S. action. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=a2pJIvLyRzCg
US imposes 35% duty on Chinese tyres
Washington/Beijing: US President Barack Obama has imposed a whopping 35 per cent additional import duty on Chinese tyres in a bid to protect the domestic market, drawing the ire of Beijing which described the measure as ‘protectionist’ and violation of WTO rules.

The additional import duty would be in force for three years, however, it would decline by five per cent each in subsequent years.

"The additional duty to passenger vehicle and light truck tires complementing the existing four per cent duty will be set at 35 per cent ad valorem for the first year, 30 per cent ad valorem the second year, and 25 per cent ad valorem the third year," the White House said in a statement. (FE)
http://www.financialexpress.com/news/us-imposes-35-duty-on-chinese-tyres/516331/