Transportation
Toyota Supplier to Hike Tire Prices in US by Up to 25% on Tariffs
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Japanese tiremaker Sumitomo Rubber Industries Ltd. said it will raise prices by up to 25% in US and Canada effective May 1, in response to US President Donald Trump’s barrage of tariff policies.
Prices will jump by up to 25% for passenger car and small truck tires, a company spokeswoman told Bloomberg News by phone on Wednesday. For truck, bus and two-wheeler tires, prices will rise by up to 10%.