YEAR IN REVIEW: Trade, tariffs affect tire industry

It was a year fraught with trade and tariff tribulations across most every industry, including the tire and automotive service industry.

True to his campaign promise to end the 24-year-old North America Free Trade Agreement (NAFTA), U.S. President Donald Trump joined Canadian Prime Minister Justin Trudeau and outgoing Mexican President Enrique Pena Nieto in signing a new agreement, called the U.S.-Mexico-Canada Agreement (USMCA).

The agreement, reached on Nov. 30, will need congressional approval before it goes into effect

Meanwhile, the Trump administration initiated its first round of import tariffs on solar panels and washing machines last January, then imposed tariffs on steel and aluminum from most countries.

In June, tariffs were extended on the European Union, Canada and Mexico.

Mr. Trump then took aim at China in July, setting a tariff of 25 percent on 818 categories of goods imported from China worth $50 billion. More could follow in the year ahead, predicated on the outcome of negotiations between China and the U.S. for a trade agreement.

Most in the industry have praised the USMCA agreement and criticized the tariffs, while others are skeptical of both.