Global Fastener News

Fastener Tariffs Throughout The Years

Fastener Tariffs Throughout The Years
September 26
11:33 2018


During FIN’s 40 years covering the fastener industry, tariffs have made frequent headlines.

Here is a sampling of tariff stories posted in the Fastener History section of GlobalFastenerNews.com:

1980 FIN – Carter Administration Sets Tariffs on Fasteners From India
A special 18% countervailing duty was imposed July 21, 1980, on nine industrial fastener tariff schedule numbers imported from India.

1982 FIN – Three-Year Duties on Imported Nuts, Bolts & Screws Expire
The Reagan Administration let the special duties on most imported nuts, bolts and screws made of iron and steel expire.

1983 FIN – Section 232 Investigation Recommends Reagan Administration Not Renew Sanctions
“It looks like the domestic fastener industry won’t be getting help from the government in its latest efforts to stem the growth of imports.”

2003 FIN – Bush Ends 201 Steel Tariffs
Facing billions of dollars in retaliatory tariffs from the European Union and Japan, President George W. Bush announced an end to Section 201 steel tariffs.

2005 FIN – Canada Sets 5-Year Tariffs on China & Taiwan Fasteners
The duties were applied after the Canadian International Trade Tribunal determined that the dumping and illegal subsidization of fasteners from China and Taiwan have hurt the fastener industry in Canada.

2009 FIN – McGrath at NIFS/West: ‘Kiss Your Importer’ For Stopping Tariffs
Unanimous U.S. International Trade Commission decision to terminate the antidumping investigation into standard fastener imports “is very rare in a preliminary investigation,” trade attorney Matthew McGrath told attendees of the National Industrial Fastener Show/West in Las Vegas.

2009 FIN – Darling at Pac-West Session: Tariffs Won’t Stop Imports
While the ITC has terminated its investigation into Nucor Fastener’s claims against imports from China and Taiwan, fastener producers in both countries say U.S. fastener tariffs would “substantially” affect their operations.

2010 FIN – McGrath at NFDA: OEM Contracts Should Provide Protection in Case of Tariffs
Importers need to coordinate with manufacturers and trading companies, review pricing policies, have contract clauses on AD/CVD liability and evaluate third country and domestic suppliers.

2010 FIN – China Transshipping Fasteners to EU Via Malaysia
Some Malaysian companies reportedly are providing repacking services for Chinese fasteners and shipping them with their generalized system of preferences (GSP) and made-in-Malaysia certificate of origin documents, allowing them to enter Europe with respective duties of 1.2% and 3.7%.

Click on the headline to read the article. Browse the Fastener History sections for hundreds of pertinent fastener trade articles.

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