News Release from Titan International, Inc.
June 19, 2007 TITAN FILES JOINT ANTIDUMPING AND COUNTERVAILING DUTY PETITION QUINCY, Ill.-Titan International Inc. has filed antidumping and countervailing duty petitions with the U.S. International Trade Commission (ITC) and the U.S. Department of Commerce. The United Steelworkers union is jointly filing this action with Titan.
"Titan doesn't mind competition," said Titan Chairman and CEO Maurice M. Taylor, "but Chinese government subsidies on trade are wrong and illegal. The freight alone to ship tires from China to the Unites States is greater than the direct labor used to produce the tires. This means labor is essentially free in China. There has been enough time for China to straighten things out, since it's not working, we are asking our government for fairness. It is a sad day when the working men and women of this country are not being treated with fairness by a foreign government that has violated U.S. laws.
"Politicians will begin to understand that when manufacturing leaves this country due to unfair subsidies from foreign government, not only are those jobs lost, but also the tax bases to pay for teachers, police, firemen and other government workers," said Taylor. "The Chinese government does not pay for any of these things, American workers do. Plus, China does not import tires without duties and multiple obstacles. We want fair trade.
"It's time to think about our own country and what's best for Americans. Thousands of U.S. manufacturers have been doing business around the world for decades. First they were proud to be called American, and now they want to be called ‘global.' It is time for America's politicians to stand up for the working men and women of the U.S.A. and not some ‘global' fog."
Titan International, Inc. (NYSE: TWI), a holding company, owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer (including all terrain vehicles and trailers) applications. Contact: Courtney Leeser
Communications Coordinator
(217) 221-4489 |
