Patential Retailatory EU Tariffs on US Fasteners

The European Union has published a list of American products that it could target if U.S moves forward with new tariffs on imports of steel and aluminum.

The United States and European Union trade is just over €1 trillion ($1.3 trillion)  each year.

The United States is the world’s top steel importer. The value of steel shipped into the country was just over $29 billion in 2017.
The 28 nations in the European Union produce 10% of the world’s steel. EU trade officials are worried that jobs would be at risk if steel that would have otherwise been sold in the United States is diverted to Europe, pushing down prices.
The European Commission has published a ten-page provisional list of products Europe imports from the United States, on which it is threatening to apply 25% import duties unless the EU is exempted from steel and aluminium duties imposed by President Trump. The list includes some fastener tariff codes.
The list is divided into two categories: US products that face immediate retaliation, and others that would be hit if the World Trade Organization rules the US tariffs illegal or three years pass. The European Union would apply tariffs of up to 25% on the first group.
Part A of the list includes  tariff codes for fasteners: 73181410, 73181491, 73181499, 73181640, 73181660, 73181692, 73181699. The products involved include self-tapping screws, spaced thread screws, blind rivet nuts, self-locking nuts and nuts, According to the US National Fastener Distributors Association, the US duties on steel and aluminium do not affect imports of finished fastener products.

Date : 17.05.2018