Linglong boss highlights need for partnerships at Turin summit

curata__z6aPBkkHnASNaqc.jpeg

Turin, Italy – Linglong Tire chairman and president Wang Feng has signaled the need greater cooperation and partnerships to address the “severe global political and economic situation” impacting the tire market.

Addressing a 7 Dec meeting of strategic suppliers and distributors from around the world, Wang focused particularly on Linglong’s plans to build a major tire manufacturing plant in Serbia.

Read the source article at European Rubber Journal

U.S.-China trade truce triggers European share surge

curata__GHs8QQr5zBJNx0S.jpeg

U.S. President Donald Trump and Chinese President Xi Jinping reached a truce at the G20 meeting on Saturday, halting additional tariffs and agreeing to fresh talks aimed at reaching an agreement within 90 days.

Although markets reacted positively, some investors and analysts said the outcome had already been partly anticipated and there remained much for the two to agree upon.

Read the source article at Stock Market Quotes and News

German automakers jump on potential U.S.-China tariff truce

BMW shares rallied the most in more than three years after U.S. President Donald Trump said China had agreed to remove painful tariffs on imported U.S.-built cars shipped to the world’s biggest automotive market. Daimler and Volkswagen Group also rose sharply. BMW and Daimler, which export SUVs from U.S. plants to China, stand to be the biggest gainers from a potential reduction of tariffs. Six of the ten best-selling U.S. auto imports to China are made by the two German luxury automakers.

Read the source article at Automotive News Europe

U.S., Canada, Mexico continue brinkmanship on trade deal until signing

curata__eA9wwz8HXCrxLWX.jpeg

BUENOS AIRES (Reuters) – The leaders of Mexico, Canada and the United States were due to sign a North American trade pact on Friday, although brinkmanship over the final details of the deal continued through the eve of the signing.

It was unclear what exactly the three countries would sign. They agreed on a deal in principle to govern the more than trillion dollars of mutual trade after a year and a half of acrimonious negotiations concluded with a late-night bargain just an hour before a deadline on Sept. 30.

Read the source article at Global Rubber Markets News

ITC hearing on China steel-wheel import duties set for Jan. 8

curata__6fj6WbwguEclBKN.jpeg

WASHINGTON — The U.S. International Trade Commission has scheduled a hearing for Jan. 8 on proposed antidumping and countervailing import duties on certain steel commercial vehicle wheels from China in Washington.

Read the source article at Tire Business

Brexit chaos looms larger over United Kingdom’s rubber sector

curata__5IhuEtVXXxaqpuQ.jpeg

LONDON–The prospect of the United Kingdom crashing out of the European Union looms ever larger with the Westminster government now in near meltdown over the Brexit deal negotiated with EU officials.

Read the source article at Rubber and Plastics News

U.S. recession unlikely before 2020, and then ‘wok’ shaped

curata__YieojVLkyQSeku9.jpeg

NEW YORK (Reuters) – U.S. President Donald Trump may just escape having to grapple with a recession before the U.S. Presidential elections in 2020, with investors saying it is unlikely one will occur before then.

Trump has praised the U.S. economy, which grew at 3.5 percent in the third quarter, following a tax-cut-fueled 4.2 percent gain in the second quarter. And even though economists see increased risks for a recession as the Federal Reserve raises interest rates and a trade war with China threatens the economy, such a scenario is still a few years off.

Read the source article at Global Rubber Markets News

U.S. car-tariff truce with Europe may end soon, EU’s Juncker signals

curata__U8CMXJadWE2Osf5.jpeg

BERLIN — European Commission President Jean-Claude Juncker signaled that Europe’s avoidance of extra U.S. car tariffs might last only until year-end, the latest indication of the fragility of the trans-Atlantic truce reached in the summer. U.S. President Donald Trump agreed with Juncker at a meeting in Washington in July to hold off new duties while the two sides work toward reducing tariffs and non-tariff barriers on industrial goods shipped between the European Union and the U.S. “We had achieved that there will not be a new trade conflict over the summer months until the end of the …

Read the source article at Automotive News Europe

Goodyear Reports 3rd Quarter 2018 Results

curata__GB5qHCBdPsISssY.png

The Goodyear Tire & Rubber Co. has reported results for the third quarter of 2018.

“We continued to improve the operating performance in our key mature markets, driven by strong volume growth, including significant increases in the more profitable 17-inch-and-greater rim sizes in the U.S. and Europe,” said Richard Kramer, chairman, CEO and president.

Read the source article at Aftermarket News

ANRPC records growth in world natural rubber consumption

According to the latest statistics from the ANRPC, in the period from January 2018 to September 2018, world natural rubber consumption grew 6.6% on a year-to-year basis to 10.653 million metric tons; world production saw a slower growth at 1.5% to 9.779 million metric tons, on a year-to-year basis. This resulted to a supply deficit of 874,000 metric tons during the same reference period based on these statistics.

Read the source article at Tire Technology International