News and Special Announcements
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To: |
Our Valued Matco-Norca Customer |
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From: |
Scott Bardreau, Vice President of Sales |
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Date: |
March 21, 2018 |
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Re: |
Tariffs and Duties |
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Listed below are two price increase announcements that must be implemented due to recent actions by the Department of Commerce (DOC) and the United States Customs and Border Protection (USCBP).
With the recent approval of the DOC's recommendation from Section 232 of the Fair Trade Act, new tariffs will be imposed on specific metal products that are manufactured outside the United States. These tariffs range from 7.0% on aluminum goods, to 25.0% on steel goods, effective at 12:01am on the 23rd of March.
The only Matco-Norca products impacted by this mandate are Galvanized and Black Pre-Cut Steel Nipples over 12 inches in length. As a result, your multiplier will increase by 25.0% effective on all shipments after March 22, 2018. We will not be able to offer any price protection or pre-buys and current backorders will be canceled.
Separately, the USCBP has notified us of an 88.3% anti-dumping duty on our CFCI Series Quick Set Closet Flanges. Our attempts to appeal this ruling have been unsuccessful and as a result, list and net prices will increase by 88.3% on all shipments after March 22, 2018. As with the Pre-Cut Nipple increase, we will not be able to offer any price protection or pre-buys and current backorders will be canceled.
We appreciate your support and apologize for the immediacy and harshness of these increases as they are truly beyond our control.
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