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 they produce.
The cost of industrial fasteners could be affected directly if they are manufactured from imported material. Fortunately, we at Global Certified Fasteners have a full line of domestic manufactures with whom we already do business. It is due to our current success with specialty fasteners made in the US that we are confident we will continue to meet the needs of our customers.
In summary, the new tariffs on steel and aluminum, which pose risks to the supply chains and inventory replacement costs of other fastener companies, will not keep Global Certified Fasteners from providing our customers the excellent products and services they are accustomed to receiving.
Find more details and related information regarding the tariffs by visiting the Mid-West Fastener Association site, mwfa.net.
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