LOS ANGELES--(BUSINESS WIRE)--In July, the United States Trade Representative (USTR) implemented a 10% tariff on $50 billion worth of imported goods from China. This 10% tariff, which includes a list of 818 products and focuses on Chinese imports that contain “industrially significant technologies,” will increase to 25% in January 2019. A few weeks later, an additional list containing 6,031 products was released, increasing the value of products subject to tariffs to $200 billion. By the end of this year, total tariffs on Chinese goods could be expected to reach a total of $500 billion.
These tariffs have generated numerous questions amongst importers, distributors and manufacturers. In order to help Fastener industry professionals understand and navigate these new regulations, Vanessa Sciarra, Vice President for Legal Affairs and Trade & Investment Policy at the National Foreign Trade Council (NFTC), will hold an informative session during Fastener Expo 2018 about the Administration’s current trade policy, including the tariffs being implemented under Sections 232 and 301.
Attendees will learn about how current trade policy may affect their businesses and strategies for managing new trade restrictions. Vanessa will offer clear understanding of new policies and will provide U.S. importers, manufacturers and distributors with a valuable insight of what to expect in 2019.
Topics will include:
- Section 301 tariffs on Chinese imports;
- Section 232 tariffs on steel and aluminum imports;
- Strategies for minimizing supply chain disruptions and managing the impact of new trade restrictions;
- Quotas: what are quotas, how do they work, and how do they relate to exemptions;
- Exclusions: what is the process to obtain an exclusion;
- Exemptions: are any countries excluded from 232 tariffs;
- WTO Challenges over 232 tariffs;
- Update on the new NAFTA Agreement (USMCA).
The session will be held Tuesday, October 30, 2018 from 3:30 - 4:30 p.m. in Las Vegas at South Seas I located on the 3rd Floor of the Mandalay Bay Convention Center.
If you are a fastener professional, come and learn about how to reevaluate your classifications, how to file for exclusions, the implications of current trade policy on consumer pricing and gain insights that may facilitate your sourcing processes.
About International Fastener Expo
The International Fastener Expo (IFE) is the largest and most diverse gathering of fastener and industrial professionals in North America. Founded in 1981 it serves all reaches of the supply chain, from manufacturer to distributor to end user, and features nearly 70 product categories. With over 850 suppliers and more than 5,000 attendees from 30+ countries, the International Fastener Expo delivers industry‐leading content and facilitates vital industry connections at their annual three‐day show in Las Vegas, Nevada, the entertainment and trade show capital of North America.
International Fastener Expo is owned and operated by Emerald Expositions, a leading operator of business‐to‐business trade shows in the United States. The company currently operates more than 55 trade shows, as well as numerous other face‐to‐face events. In 2017, Emerald’s events connected over 500,000 global attendees and exhibitors and occupied more than 6.9 million NSF of exhibition space. We have been recognized with many awards and accolades that reflect our industry leadership as well as the importance of our shows to the exhibitors and attendees we serve.