New Presidential Proclamation – Steel and Aluminum “Derivative Products”

Tuesday January 28, 2020

The 10% tariffs on aluminum derivatives and 25% on steel derivatives only applies to the following: stamped steel or aluminum auto bumpers or steel or aluminum body stamping for agriculture; steel nails, tacks (other than thumb tacks), drawing pins, corrugated nails, staples for hand power tools or manual use; aluminum stranded wire, cables, plaited bands and the like, including slings and similar articles.

 Within those items, the steel or aluminum must account for 2/3 or more of the total cost of materials; import volumes have increased since imposition of the steel and aluminum tariffs; and the import volumes exceed the average 4% increase for all goods entering the U.S.

See below for links to actual annexes identifying which products are now subject to 25% or 10% tariffs.

 

Expansion Annex I Derivatives of Aluminum Articles

Expansion Annex II Derivatives of Steel Articles

 

PMPA Business Trends January 2020

 

“January Sales Rebound- Positive 3 Months Ahead”

 

With 81 companies responding, the PMPA Business Trends Index for January 2020 rebounded to 139, up 26% over December 2019. Down just 2% from January 2019’s record of 142, up 3% over January 2018, and up 7.8% over the fiveyear average for the January index. This is a repeat of last January’s strong performance, and should help you understand that the sluggish performance in the last quarter of 2019 was due to seasonal factors, as well as to assignable causes in our largest markets served- the UAW strike at GM and the ongoing issues at Boeing. (The Boeing story remains on the front page of the Wall Street Journal- Boeing Plans More Relief for Suppliers- February 24, 2020). NO RECESSION IN PRECISION MACHINING! (only two consecutive months of declines.)

 

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