Tariff Updates on Imports from China

Global Certified Fasteners

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 […]

New Tariffs and the Fastener Industry

Global Certified Fasteners

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 […]