Tariff Updates on Imports from China

Posted by Global Certified Fasteners on  August 10, 2018
Comments Off on Tariff Updates on Imports from China
Category: Informational
On June 20, 2018, the U.S. Trade Representative announced that an additional 25% tax will be imposed on certain products imported from China. There are two lists that have been released naming the commodities that will be affected. (See links below) If you are subject to these tariffs, you’ll want to review your bond size. https://ustr.gov/sites/default/files/enforcement/301Investigations/List%201.pdf https://ustr.gov/sites/default/files/enforcement/301Investigations/List%202.pdf The bond amount is 10% of the total duties, taxes, and fees an importer brings into the United
The global automotive fastener market is projected to grow from an estimated USD 21.45 billion to USD 25.30 billion by 2025. Growing vehicle production, shifting focus toward lightweight vehicles, and the increasing use of electronics in vehicles, are all helping to drive the demand for fasteners. The Semi-permanent automotive fastener is the upcoming trend in the automotive industry. It is estimated to be the fastest growing segment of the automotive fastener market. Semi-permanent fasteners can
How New Tariffs Could Affect the Fastener Industry On March 18, 2018 the United States Department of Commerce announced tariffs on steel and aluminum, at 25 and 10 percent respectively.   While tariffs may sound good to US-based steel and aluminum companies (a tax on imports makes the domestic equivalent relatively cheaper), it could be a challenge for the much bigger sector of the US economy that buys those metals to use in the goods