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    Tariffs On Stainless Steel Fasteners

    DateTime:2017-12-20    Author:Kadoya Everbright    PV:392

    It is reported that Fastenright fastener supplier in South Africa is applying to cancel the April 1 stainless steel fasteners tariffs. The tariff is passed by the Ministry of Trade and Industry in June this year to protect the local fastener manufacturing industry through tariffs on the protection of hot-rolled coils.

    The South African Commission on International Trade Management (ITAC) has received some domestic manufacturers of fasteners asking for the tariffs on stainless steel fasteners to rise to 15% -30% as defined by the World Trade Organization.

    Rainer Lutz, managing director of Fastenright, points out that no local manufacturer is able to produce the relevant stainless steel fasteners that meet the customer's size, quality standards or production requirements. Like many suppliers, Fastenright mainly imports stainless steel fasteners from accredited suppliers in Asia and Europe. These suppliers have a raw material certification to confirm the quality of raw materials. "In the past, these products were duty-free, but South African stainless fastener importers are now becoming negligent victims of tariffs on stainless fasteners."

    Rainer Lutz said: "If we failed to apply for SAFE, we would have to be forced to raise prices, so the newly introduced import tariffs increased costs. All suppliers are facing the same predicament, which will result in Inflation across the stainless steel industry in South Africa affected other products that needed to be assembled using stainless steel fasteners. "

        In response, South Africa's International Trade Administration has urged the lifting of the import tariffs on stainless steel fasteners.