Important Update – China Steel Nail Tariff Reduction / Tariff Calculation
Dear Valued Customer,
Please be advised that the recent Supreme Court decision on tariffs does not affect steel globally. Section 232 and 301 tariffs remain in effect and unchanged. However, on nails from China the IEEPA (also known as the opioid tariff), which at one point was 20% and recently reduced to 10%, is now removed. As we have always been transparent this will be treated as any prior changes and there will be a line item tariff credit on any nails coming in after this change goes into effect this week.
On another note, there is still a major issue with certain importers using the wrong analysis for calculating steel tariffs, basing the tariff amount paid on just the steel cost. We continue to believe that this is not accurate and the steel tariff is based on the full finished value of the product, FOB origin. This seems to have gotten a lot of attention recently and we believe is being reviewed closely by CBP. We hope to see a resolution on this situation soon.
Thank you for your continued support and please call us with any questions.
Continental Materials, Inc. (CMI) is a leading national supplier of roofing system component materials. As the largest importer of roofing fasteners into the US, our roofing fasteners go on 2.2 million homes every year and our construction fasteners frame another quarter million homes. CMI is the exclusive supplier of top-of-the-line SecureGrip synthetic underlayments in both mechanically attached and self-adhered formats. And of course we’re known for our “No Smell” BUR asphalt with its WeatherSeal protective packaging and eco-friendly woodfiber roof insulation. CMI’s focus is on bringing Quality, Service, and Value to our customers and we’ve been doing just that since 1958.
For more information on CMI products, call (215) 884-4930, visit our website or contact your local CMI Sales Representative.