E-mail: jinruisale@shxingrui.com
Tel: +86-21-6044 4211
Contact Us

Contact: Eva He

Tel: +86-21-60444211

Mobile: +8613167060472

Whatsapp: +8613167060472

Email: jinruisale@shxingrui.com

Website: www.chinajinrui.net

Home > News > Content

News

Will Fastener Industry Be Impacted By US

Mar 24, 2018

On March. 8, US President Donald Trump signed a proclaimation to impose 25% tariffs on steel and 10% on aluminium imported to the country. Mexico and Canada were exempted.

The proclaimation roused great impacts on the world economy. There were much confusions about whether the tariff would be levied on fasteners and the industry.

A letter from Brighton Best International (BBI), posted on Fastener News Desk, noted the confusion in the fastener industry over whether the new tariffs will affect fastener product. According to BBI’s trade lawyers, the import duty codes will not affect finished fastener products, affecting raw materials such as sheets, plates, pipes, etc.

Also from the Proclaimation of President Trump, "For the purposes of this proclamation, “steel articles” are defined at the Harmonized Tariff Schedule (HTS) 6‑digit level as: 7206.10 through 7216.50, 7216.99 through 7301.10, 7302.10, 7302.40 through 7302.90, and 7304.10 through 7306.90, including any subsequent revisions to these HTS classifications.", thus the tariff will not be directly imposed on fasteners entering the country but we can not deny its impacts on the manufacturing industry. Some news urged that it is imperative for President Donald Trump to evaluate the potential negative consequences that tariffs will have on U.S. manufacturers, like the tooling and machining industry, gear and wire producers, and industrial fastener manufacturers".