On July 10th, The Trump Administration announced a list of 10 % tariffs on US$200 billion in Chinese goods, shocking the global market again. China was also very upset to the announcement. The trade “war” between USA and China seems to become tit for tat.
In the more than 200-page report, 16 items of fasteners (within the category of HS code 7318) are also included, which are:
7318.11.00 Iron or steel, coach screws
7318.12.00 Iron or steel, wood screws (o/than coach screws)
7318.13.00 Iron or steel, screw hooks and screw rings
7318.14.10 Iron or steel, self-tapping screws, w/shanks or threads less than 6 mm in diameter
7318.14.50 Iron or steel, self-tapping screws, w/shanks or threads 6 mm or more in diameter
7318.15.20 Iron or steel, bolts and bolts & their nuts or washers, imported in the same shipment
7318.15.40 Iron or steel, machine screws (o/than cap screws), 9.5 mm or more in length and 3.2 mm in diameter
7318.15.50 Iron or steel, threaded studs
7318.15.60 Iron or steel, screws and bolts, nesoi, having shanks or threads less than 6 mm in diameter
7318.15.80 Iron or steel, screws and bolts, nesoi, having shanks or threads 6 mm or more in diameter
7318.19.00 Iron or steel, threaded articles similar to screws, bolts, nuts, coach screws & screw hooks, nesoi
7318.21.00 Iron or steel, spring washers and other lock washers
7318.22.00 Iron or steel, washers (o/than spring washers and other lock washers)
7318.23.00 Iron or steel, rivets
7318.24.00 Iron or steel, cotters and cotter pins
7318.29.00 Iron or steel, nonthreaded articles similar to rivets, cotters, cotter pins, washers and spring washers
A senior U.S. official said that the US$200 billion figure is approx. equal to China’s exports to us and he said U.S Government has been extremely clear to China in terms of its concerns about trade, but China has been unresponsive.
Many product items (already included in the Made-in-China 2025 policy) were also involved.
However, the new tariffs are still in discussion and will not come into force immediately. It will undergo a 2-month review process and public hearings will take place on Aug. 20-23.