The Office of the United States Trade Representative (USTR) issued a statement announcing exemptions from tariffs on 352 items imported from China for the period of October 12, 2021 to December 31, 2022. The exempted products include ductile iron angle plug valve bodies, portable outdoor cookware sets,
wire grills, steel kitchen and table utensils, screw jacks and scissor jacks, gas ignition safety controls, etc. Multiple home hardware categories.
Some experts believe that this is a good start, benefiting manufacturers and consumers of 352 products including related household and hardware products, as well as manufacturers and consumers in the supply chain and consumption chain, while indirectly encouraging other expecting exemptions. product and supply chain.
Industry companies generally believe that this adjustment will have a certain positive impact on the future development of home hardware export business, but still maintain a cautiously optimistic attitude. The person in charge of a leading home furnishing company believes that this tariff exemption is a continuation and confirmation of the proposed re-exemption of tariffs on 549 Chinese imported goods in October last year. There are not many industries involved, and the direct benefits are not large. However, this tariff exemption at least shows that the trade situation has not deteriorated further, but is changing in a positive direction, which has established confidence in the industry and is conducive to future development..
Relevant listed companies in the industry also responded publicly to the tariff exemption. Superstar Technology said that the Office of the United States Trade Representative announced 352 items for the latest extension of the exemption period. Among them, Superstar Technology mainly includes some household items such as lockers, hat racks, hat hooks, brackets and the like; LED lanterns work lamps; special products such as electrical tape; small vacuum cleaners, etc. Since the period involved is applicable from October 12, 2021 to December 31, 2022, it is expected to have no impact on the company's 2021 performance forecast, but will have a certain positive impact on the company's business in 2022.
According to the published tariff exemption list, Tongrun Equipment initially judged that there is currently a class of metal siding products in the tariff exemption list. The company's sales department and technical department are interpreting the details of the list, and will further confirm the scope of the tariff exemption list with American customers. Tongrun prepares the export pricing method to be FOB price, so this tariff exemption has no substantial profit impact on products that have been exported since October 12, 2021. If there are products in the list of tariff exemptions in the future, it will be beneficial to the development of the US market in the future.
Post time: Aug-10-2022