The Word “Tariff” Brought Up Again
FEATURE
The Word “Tariff” Brought Up Again
The Metals Service Center Institute recently called for additional tariffs on imported steel and imported steel containing products plus continuing China’s status as a “non-market” economy.
MSCI – a trade association with 400 members operating 2,500 locations in North America – pointed out in a statement filed with the U.S. Trade Representative an the U.S. Department of Commerce, that U.S. Steel has cut 5,000 jobs since the beginning of 2015 and lost $8 billion.
Steel tariffs are not new as a sampling of articles from the Fastener History section of GlobalFastenerNews.com reveals:
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 on January 6….
Commerce Secretary Baldrige attributes domestic fastener industry’s decline to general economic slump….
2003 FIN – Bush Ends 201 Steel Tariffs
The Bush tariffs were ruled illegal by the World Trade Organization opening the way for other countries to impose strategic tariffs unless the White House lifted sanctions….
2005 FIN – Canada Sets 5-Year Tariffs on China and Taiwan Fasteners
Canadian Fasteners Institute: Duties “will help keep the playing field level and ensure that imports are fairly priced in the Canadian market in the future.”…
2009 FIN – Why the U.S. Trade Commission Rejected Tariffs
The ITC’s 137-page public report, “Certain Standard Steel Fasteners from China and Taiwan,” shows that the Commission rejected duties because standard fastener imports, by volume, have increased less than 2% in the past three years….
2009 FIN – European Distributors Seek ‘Level Playing Field’
Hopwood: Effect of U.S. anti-dumping tariffs on China and Taiwan could result in more production moving to other Asian countries….
2010 FIN – China Transshipping Fasteners to EU Via Malaysia
GRK Wins Exemption From Canadian Anti-Dumping Duties …
2013 FIN – Perspective – Lederer: Distributors Seek More Influence in EU Policy
At the capital in Brussels, the European Union “is making decisions that have a direct and very real impact on the European fastener distribution sector and on its customers,” Dr. Volker Lederer declared….
For more of the Metals Service Center Institute’s statement, FIN Subscribers can CLICK HERE.
For the GlobalFastenerNews feature on “Fastener Prices Rising Based on Jump in Cost of China’s Steel,” FIN Subscribers can CLICK HERE.
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