【JINDI NEWS】The impact of China-US trade on the fastener market
On May 8th of Beijing time, after the US Dow Jones index plunged nearly 500 points the night before, the US Trade Representative Office (USTR) issued a statement announcing that the US will raise its tariff on $200 billion of Chinese imports from 10 percent to 25 percent on May 10th.
China is the second largest source of fastener imports in the United States, and the United States is currently levying anti-dumping duties on spring washers and threaded rods. If the list involves products such as metal products, it is estimated that there will be more tightness. Firmware products are subject to anti-dumping duties. "In this list, it is truly including the nut, steel or iron (731816).
Nantong Jindi Fastener Co., Ltd. (hereinafter referred to as “Jindi”) is mainly engaged in the manufacture, processing, wholesale and retail of fasteners, most of which are exported to Europe, Middle East, South America and the United States. According to the list of tariffs imposed by the United States on Chinese imports, few of bolts and screws exported to the United States has been included in the tariff list. The corresponding sales revenue accounts for a small percentage of the company's total revenue.
Therefore, the U.S. government’s tariff on $200 billion of Chinese imports has no impact on the company’s operating income and daily operations.
At present, the company's operating conditions are stable. By improving the processing technology and increasing the production efficiency, all export products have maintained a good momentum of development and the company's strength has been further enhanced. The company will pay close attention to the status. We will reduce the possible risks of the trade with US, and maintain the communication and exchanges with every customer, in order to enhance the contact and the trust with customers.
A wide range of products, quality and professional win the trust of customers.