I’m not an expert on tariffs but I do keep my ear to the ground to hear what is rumbling. A note that passed my desk pointed out that President Trump’s next proposed round of tariffs would, in fact, affect HTS code 73181600 – the code for “Nuts made of Iron or Steel”. That is correct, there could be a 25% tariff on hex nuts imported from China. Folks, that a lot of hex nuts! In fact, that might just be where a lot of all hex nuts you buy and sell are coming from.
This announcement was just made in the last few days. The Department of Commerce announced Section 301, which looks to impose a 25% tariff on some 1,300 HTS codes (import codes). According to what I read, Section 301 relates to intellectual property that the US Department of Commerce says Chinese companies have stolen from USA companies.
Section 301 is still in the draft stage and the government is seeking public comments before a determination is made in May. So, it is not a done deal yet. But be aware, if this goes through you could be looking at a 25% increase in your price on nuts made in China.
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