Global Fastener News

President Donald Trump ordered an additional 10% duty on all Chinese imports starting March 4. The new 10% tax on Chinese goods is in addition to a 10% levy imposed in early February. The president said China hadn’t done enough to block the trade in fentanyl.

The latest action will bring the total import fee on some Chinese goods to 45%.

Trump also said his 25% duties on Canadian and Mexican merchandise will take effect on March 4 after a 30-day reprieve.

In addition, new 25% import taxes on steel and aluminum, including finished metal products, are scheduled to take effect on March 12.

The 232 metals levy ordered by Trump includes a rule requiring foreign steel to be “melted and poured” and for aluminum to be “smelted and cast” within North America. The measure aims to curb imports of minimally processed Chinese steel.

Designed to promote domestic steel industry production, the metals tariffs will increase costs for manufacturers that use the industrial metals to produce goods such as automobiles and appliances.

TARIFFS HIKING FASTENER PRICES
Fastener companies have begun raising prices to offset increased costs from the tariffs.

Two weeks after the 232 tariffs were reinstated, Sherex Fastening Solutions announced price increases.

“The increased costs associated with these tariffs will have a direct impact on our wire and finished goods costs,” Sherex president Adam Pratt told customers in an email.

Sherex, which serves automotive, general manufacturing, renewable energy, agriculture and aerospace markets, is implementing an 8% price increase on products from its Taiwan, Malaysia and EU production facilities.

“This price increase is 100% related to the proposed tariffs,” Pratt emphasized.

The increase does not affect fasteners made from domestic wire in U.S. production facilities.

Sherex expects to increase prices on March 12, when the tariffs are expected to take effect.

The Buffalo, NY-based fastener manufacturer is not the only company hiking prices.

Days after reporting sharply improved 2024 earnings, Howmet Aerospace CEO John Plant stated that any costs incurred by the tariffs will be passed on to customers.

On the February 13 annual earnings call, Plant said Howmet is well positioned to deal with the effects of the tariffs due to the strong contracts it has.

Pittsburgh-based Howmet is a Tier 2 supplier of fasteners, engines, aluminum and titanium structures, and other aircraft components to Airbus, Boeing and other OEMs.

Some domestic fastener manufacturers are seizing the opportunity to promote products made in the U.S.
are using the tariffs in new marketing campaigns.

Taylor, MI-based B&D Cold Headed Products is marketing its products on LinkedIn as “100% shielded” from new tariffs.

“B&D remains completely unaffected — providing domestic, cold-headed fasteners with zero disruption to cost or supply.”