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Will The Fastener Industry Be Affected By The New US President's Steel Tariffs?

Mar 20, 2018

In March. 8, U.S. President Donald Trump signed a proclaimation, a 25% tariff on steel, 10% of aluminum imports to the country.

Mexico and Canada have been exempted. Proclaimation stirred up a huge impact on the world economy.

There is a lot of confusion about whether the fasteners and the industry are imposing tariffs. In a letter from Brighton Best International (Interchange) posted at the Fastener news station, the fastener industry's confusion about whether the new tariffs will affect the fastener products is pointed out.

According to the bus transfer station of the trade lawyer, the import tariff code will not affect the finished product fastener products, affecting raw materials such as plates, plates, pipes and so on.  In addition, from the proclaimation of the president's trump card,  "For the purpose of this bulletin,  Steel article " in the Uniform tariff Timetable (superconductivity) 6‑digit level is defined as: 7206.10 to 7216.50, 7216.99 to 7301.10, 7302.10, 7302.40 to 7302.90, 7304.10 to 7306.90, including any subsequent revisions to these HTS classifications. Therefore, tariffs will not be imposed directly on the fastener entering the country, but we cannot deny its impact on manufacturing. It has been reported that President Donald Trump must assess the potential negative effects of tariffs on American manufacturers, such as tooling and machining, gear and wire manufacturers and industrial fastener manufacturers. ".

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