The legislation aims to increase competition with Chinese imports by providing a tax credit to reduce the cost of retreading tyres.
U.S. Senator Sherrod Brown (D-OH) recently introduced the Retreaded Truck Tire Jobs, Supply Chain Security and Sustainability Act, designed to support Ohio tyre producers and workers by lowering tyre costs. The legislation aims to increase competition with Chinese imports by providing a tax credit to reduce the cost of retreading tyres, Brown said.
Brown said the tax credit would make American retreaded tires more affordable for consumers, truckers, and businesses, allowing Ohio companies and workers to better compete with Chinese imports.
A 2023 report showed that the industry employs over 51,000 workers and supports more than 268,000 jobs across the broader $28.4 billion U.S. tyre industry. However, the number of tyre retreading facilities in the U.S. has dropped from over 3,000 in 1982 to an estimated 500 in 2023. The rise in lower-quality, cheap import tyres from countries like China is contributing to this trend, increasing the likelihood of further plant closures, Brown said.
The proposed legislation is supported by various auto industry leaders, manufacturers, and labor leaders. Brown held a news conference call with John Rizzo, VP of the Akron-Canton Advocacy Alliance, and Johnny McIntosh, senior director of commercial services and retreads at The Goodyear Tire & Rubber Company, to discuss the legislation.
Rizzo said the legislation would positively impact the national economy, sustainability goals, and position American companies for success. He added that it would directly benefit Greater Akron and its companies, making it good for local communities.
Paolo Ferrari, CEO of Bridgestone Americas and Global Co-COO of Bridgestone Corporation, said he supports the legislation because it addresses job creation, sustainability, and a more robust domestic supply chain. He said he believes the increased demand for U.S.-manufactured retreaded tyres will create local jobs, reduce costs for tyre customers, save energy, reduce material consumption and waste, and lessen dependence on tyres imported from overseas.
