Select Committee on CCP seeks answers from auto parts CEOs on illegal shipments from China [Seeking Alpha]
O'Reilly Automotive, Inc. (ORLY)
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Source: Seeking Alpha
unlawful import of merchandise into the U.S. from Qingdao Sunsong, a company based in the People's Republic of China (“PRC”). In letters to the CEOs of O'Reilly Automotive ( NASDAQ: ORLY AutoZone NYSE: AZO Advanced Auto Parts NYSE: AAP ), and Genuine Parts Company NYSE: GPC the committee raises concerns that Qingdao is circumventing Section 301 tariffs by shipping auto parts into the U.S. through Thailand. According to the letter, U.S. retailers like AutoZone ( AZO ), O'Reilly ( ORLY ), and Advance Auto Parts ( AAP ) account for 40% of Qingdao's sales. “U.S. retailers are responsible for ensuring their procurement practices do not inadvertently support companies engaged in tariff evasion or other unlawful trade practices,” the letter states, as those found complicit in knowingly purchasing unlawfully transshipped products face serious criminal and civil liability. “We are troubled by your company's continued procurement of its product,” the committee says to the heads of O'Reill
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