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EU's Potential Retaliatory Tariffs On U.S. Fasteners

Mar 21, 2018

The European Commission has issued a 10-page tentative list of imports from the United States, which could impose 25% import tariffs if the EU is not constrained by the steel and aluminium tariffs of the Trump president.

The checklist includes some fastener tariff codes. The Commission asked the stakeholders to comment on the list of tariff codes, some of which were about € 2.8 billion worth of imports from the United States each year. Upon notification to WTO, retaliatory EU tariffs may be applied at any time to this part of the list. Part B of the list may be implemented after three years or when the United States tariffs are illegal under international trade law of the WTO.

This would result in a potential retaliatory tariff amounting to 6.4 billion euros, the value of U.S. steel and aluminium imports from the EU. The 10-page list includes a variety of products from peanut butter and orange juice, steel and steel products. The burial in a section is seven tariff codes for fasteners: 73181410, 73181491, 73181499, 73181640, 73181660, 73181692, 73181699.

The products involved include tapping screws, spacer screw screws, blind rivet nuts, self-locking nuts and nuts.

According to the National Association of Fastener Dealers, and lawyers for the country's largest major distributor, Brighton's best international, U.S. tariffs on steel and aluminium do not affect imported finished product fasteners. Importantly, the list is in EU Trade Commissioner Cecilia Malmström and US Commerce Secretary Webber. Announced before Ross's meeting. The Trump president said that Secretary Ross would take the lead in trying to eliminate EU tariffs and barriers, describing it as "terrible" and unfair to American farmers and manufacturers. Reuters quoted a committee spokesman as saying he refused to accept the US attempt to link the solution to market access or trade negotiations, stressing that the EU would not negotiate exemptions for those provisions.

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