Global Fastener News

Tag "tariffs"

China Trade Truce Freezes U.S. Fastener Tariffs Until 2020

February 04
09:31 2020
    China Trade Truce Freezes U.S. Fastener Tariffs Until 2020

Phase one deal leaves 25% tariffs on bolts, screws and other fasteners manufactured in China, as well as 15% tariffs on all iron and steel nuts.

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Riggs Tells NFDA: Know Importing Rules

November 21
16:07 2019
    Riggs Tells NFDA: Know Importing Rules

Have a customs broker? It isn’t cover for you if U.S. Customs arrives at your office, Danielle Riggs cautioned the National Fastener Distributors Association. “One hundred percent is on the importer,” explained the director of international compliance for Würth Industry North America.

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US Tariff Exemption Process Includes Chinese Nuts

November 19
07:44 2019
    US Tariff Exemption Process Includes Chinese Nuts

The new exclusion request process indicates U.S. tariffs on Chinese fasteners and other products are unlikely to be removed or reduced for at least the next 12 months.

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Simmi: Importers Can Only Absorb So Much

November 18
01:48 2019
    Simmi: Importers Can Only Absorb So Much

More tariffs could be coming: The October 5% increase is ‘still pending’ and December could bring determination on threaded rod and stud tariffs.

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Wortman at IFE: Will ‘Take A While’ For Tariffs To End

October 01
07:20 2019
    Wortman at IFE: Will ‘Take A While’ For Tariffs To End

Importers turning to “tariff engineering” to lower costs. “Everybody is looking for everything,” the attorney told the 2019 International Fastener Expo conference.

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Tariffs Achieve Mixed Results For U.S. Fastener Industry

September 03
23:04 2019
    Tariffs Achieve Mixed Results For U.S. Fastener Industry

Numerous domestic fastener manufacturers are promoting their U.S. operations in advertising, but there are varying responses to whether or how much the tariffs are boosting domestic sales.

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Trump Tariffs Escalate: Fasteners and Nuts From China See Further Duty Hikes

September 03
18:05 2019
    Trump Tariffs Escalate: Fasteners and Nuts From China See Further Duty Hikes

Twelve hours after China said it would retaliate against U.S. President Donald Trump’s next round of tariffs by raising taxes on American goods, Trump said he would bolster existing tariffs on $250 billion worth of Chinese goods to 30% from 25% on Oct. 1, including duties on bolts, screws and other fasteners manufactured in China. Trump also said the U.S. would tax another $300 billion worth of Chinese imports at a 15% rate, which includes all iron and steel nuts (HTS subheading 7318.16.00) imported from China.

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Tariffs On Iron & Steel Nuts From China Not Delayed

August 13
17:58 2019
    Tariffs On Iron & Steel Nuts From China Not Delayed

On August 13, the Trump administration delayed imposing a 10% import tariff on electronics and other consumer goods, Reuters reports. The administration is still moving forward with 10% tariffs on much of the $300 billion of Chinese imports, including all iron and steel nuts (HTS subheading 7318.16.00) imported from China.

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Trump Tariffs Target Iron & Steel Nuts From China

August 05
09:14 2019
    Trump Tariffs Target Iron & Steel Nuts From China

The new 10% tariff applies to all iron and steel nut imports (HTS subheading 7318.16.00) from China, as well as iPhones and most consumer goods.

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USTR Announces 301 Tariff Exclusion Process

July 10
23:29 2019
    USTR Announces 301 Tariff Exclusion Process

Companies requesting exemptions must demonstrate that the product is available only from China, that the tariff will cause severe economic harm and that the product is "strategically important."

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China Raises Export Tax Rebate For Fasteners

March 27
17:03 2019
    China Raises Export Tax Rebate For Fasteners

“Increased export tax rebates will help lower costs for China-based exporters, many of whom have been hit by US tariffs and significant economic uncertainty,” ChinaFastener.Info reports.

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U.S. Tariff on Chinese Fasteners To Continue

March 25
15:25 2019
    U.S. Tariff on Chinese Fasteners To Continue

The original tariff of 10% will continue for a “substantial period of time because we have to make sure that if we do the deal with China that China lives by the deal,” U.S. President Donald Trump stated in late March.

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South Africa Investigating Surge in Fastener Imports

March 25
04:00 2019
    South Africa Investigating Surge in Fastener Imports

South Africa notified the WTO of investigation, which started March 1. Interested parties have 20 days to submit information.

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Fastener Tariff Hike Suspended ‘Until Further Notice’

March 04
23:05 2019
    Fastener Tariff Hike Suspended ‘Until Further Notice’

The U.S. Trade Representative’s office said it would move to formally suspend a scheduled tariff increase on Chinese goods “until further notice,” Reuters reports.

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Vulcan Steel Seeks Duties on Asian Threaded Rod

March 04
22:39 2019
    Vulcan Steel Seeks Duties on Asian Threaded Rod

Steel threaded rod, bar, or studs subject to these investigations are non-headed and threaded along greater than 25% of their total actual length and produced in China, India, Taiwan and Thailand.

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U.S. 232 Tariff Exclusion Process Still Vexing

March 04
18:36 2019
    U.S. 232 Tariff Exclusion Process Still Vexing

“It’s caused us major, major chaos,” Dexter Fastener Technologies VP Jim Cremering told The Detroit News. "We got exemptions for some, but not others. It doesn’t make sense.”

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U.S. Tariff Hike On Chinese Fasteners Delayed

December 10
08:56 2018
    U.S. Tariff Hike On Chinese Fasteners Delayed

Section 301 tariffs of 10% on $200 billion worth of Chinese goods, including a majority of fasteners manufactured in China, were scheduled to increase to 25% on January 1, 2019.

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Sciarra: Work With Trade Groups on U.S. Tariffs

November 15
21:41 2018
    Sciarra: Work With Trade Groups on U.S. Tariffs

“The automotive and equipment associations work hard,” stated Vanessa Sciarra, VP for legal affairs and Trade & Investment Policy for the National Foreign Trade Council. “They are your best friends.”

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Sciarra: Work With Trade Groups on U.S. Tariffs

November 12
12:03 2018
    Sciarra: Work With Trade Groups on U.S. Tariffs

“The automotive and equipment associations work hard,” stated Vanessa Sciarra, VP for legal affairs and Trade & Investment Policy for the National Foreign Trade Council. “They are your best friends.” 

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October FDI Accelerates

November 12
02:12 2018
    October FDI Accelerates

Sales and hiring increased during the month, while customers expressed uncertainty about future orders due to U.S. tariffs.

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