On September 11, the U.S. government announced that it imposed a three-year punitive tariff on all cars and light truck tires imported from China. In the next three years, the United States will impose special tariffs of 35%, 30%, and 25% on tires imported from China. According to reports, this will cause China’s tires to lose US$1.1 billion in US exports.
At the same time, it will also involve the domestic tire industry and the related upstream and downstream industries' survival and development. On September 13, the Chinese Ministry of Commerce announced that it started anti-dumping and anti-subsidy filing procedures for some imported automotive products and broiler chicken products originating in the United States. Analysts believe that this move is in retaliation for the US President Barack Obama’s order to add tires to Chinese tires to the United States. With punitive tariffs, trade wars between China and the United States are on the horizon.
How do consumers view this event, and what impact will it have on consumer behavior? For this reason, Digital 100 Market Research Corporation joined CCTV's “Today's Observation†column and conducted an online survey of 3,551 consumers.
Trade protection is unpopular
According to the survey data, nearly 70% of respondents believe that the United States imposes special tariffs on China’s imports of passenger cars and light truck tires as a protectionist policy. At the same time, 45.7% of people said that this is an expedient measure that the U.S. government does not want to lose support from U.S. steel workers. When asked about the impact of this special tariff collection, “increasing trade friction, rising protectionism, and causing a serious blow to the Chinese tire industry†became the consensus of most respondents.
At the same time, China’s countermeasures have gained public recognition. Data shows that 32.4% of people support China’s implementation of retaliatory tariffs on other US products. 30.5% believe that it is necessary to promote industrial upgrading by optimizing the industrial structure. In addition, 30% of respondents hope to solve it by appealing to the WTO. Some experts said that the United States imposes punitive tariffs on Chinese tires. On the surface, it seems to be in line with the WTO's relevant procedures. Actually, the basis for its legal principles is insufficient. For this kind of abuse of trade remedy measures, China's counterattack is justified.
It is understood that the tire protection case will also affect the interests of many U.S. dealers and raw material producers while suppressing the Chinese tire industry. It is estimated that 25,000 people in the United States will lose their jobs. It has also been widely opposed by the US tire industry and GM, Ford, Chrysler, the United States, the three major auto giants and US consumers.
Consumers value more value for money
In the face of the U.S. government’s obstinate behavior, Chinese netizens showed a rational and pragmatic side. In terms of consumer behavior, 62.9% of people are more at a reasonable price point. "The same price, which country's product quality will buy which is better." At the same time, 33.3% of people choose to support domestic products. Some netizens also commented that the addition of tariffs, while meeting the interests of individual industries and sectors of the United States in the short term, will inevitably damage the interests of US consumers in the long run. It is a great loss to the United States.
As the United States imposes high tariffs on China's tires, it is estimated that China's tire exports to the United States will decrease by more than 50%. In the face of the serious consequences that may arise, the China Rubber Industry Association proposes seven suggestions including the complete vehicle support and government procurement with national brand tires. According to industry insiders: “For products of the same quality, foreign brand prices are about 35% more expensive than ours. If the 7-point proposal can be adopted, then national brand tire companies need not seek exports. The Chinese market is large enough, and Chinese consumers also Can benefit from it."
Some experts said that protectionism, although protecting the system of a specific industry in the country in the short term, is not conducive to the full recovery of the global economy. A single economic protection policy can not restore the interests of specific industries. The national economy cannot be driven by a single industry. The recovery of the world economy requires the participation of all countries. The U.S. government’s so-called special tire insurance bill has not only seriously affected the normal trade between China and the United States, but also meant a setback in the world trading system.
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