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Steel Tariffs Hit U.S. Largest Nail Maker

Source:Iris Liang Time:2018-6-29 10:25:29

“If Trump’s government cannot exempt steel tariffs, we may have to stop work or move to Mexico,” said James Glassman, a spokesman for Mid Continent Nail Corp in the United States on Tuesday. News Network interview said. According to reports, nails produced by Nakasu Iron Nails Co., Ltd. account for about half of the US nail production. The company invested $5 million in Missouri in 2015 and is one of the largest employers in the region. Thanks to stable policy, Seko Machinery's stainless steel tube making mill has reasonable and stable price, considerate after-sale service and more chances.
Located in Missouri, Zhongzhou Tie Nail Company is the largest nail manufacturer in the United States. Due to tariff problems, the company had dismissed 60 of the 500 workers on June 15 and planned to dismiss another 200 by the end of July. Glassman said, "This is a frustrating move, and we also hope to provide local jobs."

On March 1, 2018, Trump announced that it will impose a 25% tariff on steel imported into the United States and a 10% tariff on imported aluminum. This means that the Zhongzhou Tie Nail Company must pay an import tariff of 25% on the delivery of raw materials from the Mexican parent company Deacero to Missouri, even if they only import raw materials within the same company. The company’s suppliers said that due to tariff issues that led to the company’s nail price growth, buyers will find cheaper nails on the market, and their sales have dropped by 50%.
Company spokesperson Elizabeth Heaton said on Wednesday that the company has filed a customs exemption application with the US Department of Commerce. However, the Ministry of Commerce has received more than 20,000 requests for customs exemption, and the application has been handled for a long time.

       In an interview with The New York Times, he said that he is now very upset about President Trump’s trade policy and is seeking help from Missouri State Senator McCaskill. He said, "Trump (when he was running for president) claimed at the time that he would revive the United States and would protect the US job. Now his actions are very likely to cause 500 Americans to lose their jobs."

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