We would like to communicate the following Industry Update:

The U.S. Department of Commerce recently announced affirmative preliminary tariff rulings on passenger and light truck tires manufactured in Vietnam, Thailand, South Korea and Taiwan.* In addition to the impact on pricing from tariffs (rates ranging from 6% to 98%), tire manufacturers are also experiencing the following:

• Escalated freight costs from domestic and ocean rate carriers due to a large increase in imported tires and a chronic shortage of space on vessels; and
• Increased raw material costs used in the manufacturing process, approximately 3% to 5% over the past three months.

As a result, Traction will be passing these price increases on effective Monday February 1, 2021 on the following Passenger and Light Truck product lines; Sumitomo and Eldorado up to 12.5%, Radar up to 9%, Arroyo up to 9%.

Goodyear, Michelin, Bridgestone/Firestone, Continental/General, Hankook brands have also announced price increases of up to 12%. We will continue to work with our suppliers to monitor these tariffs and communicate updates as received with our loyal customers.

Traction remains committed to our Service Promise and delivering high quality, value priced tires.
Our Team is equipped to assist customers with product recommendations and strategies to mitigate these price increases and its effect on product availability.