In November, a Fastener Distributor Index (FDI) survey asked respondents about the impacts of potential tariffs on U.S. fastener markets.
A majority of distributors (56%) signaled support for U.S. President-elect Donald Trump’s pledge to impose broad tariffs soon after taking office on January 20.
A plurality of respondents (43%) leaned towards “there will be mixed results, but I support,” with an additional 13% deciding tariffs “will help, I support.”
Resistance to widespread duties was also strong, with 40% of respondents opposing the proposed trade remedy.
Comments varied.
“China has been dumping into the global markets for decades now. Happy to have leadership willing to do something about it, even though the U.S. market will struggle to wean itself off of cheap goods.”
“Needs to be strategic like in 2018 but across the board is not a good plan.”
“Historically, no BLANKET tariff imposed has EVER worked since the 1800s. In fact, the Smoot – Hawley Tariff Act signed by (former U.S. President Herbert) Hoover is famous for making the existing 1929 depression into the Great Depression. Those who do not learn from history are doomed to repeat it. Only people who don’t understand basic economics would think blanket tariffs are a good decision. (Note that certain countervailing duties are proven effective but those are not tariffs per se.)”
“We will have to see what effect President Trump will have on Asia, specifically China and Taiwan situations.”
“Canada and the USA need to band together and sign a bilateral agreement to exert pressure 1) On China and 2) Mexico as a conduit to cheap Chinese EVs and products in Canada/USA. The U.S. needs energy and Canada has it — those Northern States don't need a 25% tariff on Canadian oil. Let’s make a deal… and I’m quite sure we will by summer 2025.”
“Worried about trade tariffs. Could cause margin and supply issues. Nobody wins trade wars.”
“It’s a level playing field, we will all have to deal with them.”
“Tariffs in general are a bad idea. Just dumb. I support a free market.”
“People don’t understand who actually pays those tariffs. People think we are punishing other countries, but that money goes to the U.S. government.”
“Of course it will hurt temporarily, until it all balances out, then business as usual but with a bump in USA manufacturing. A long time coming!”
The FDI is a monthly survey of North American fastener distributors conducted by the FCH Sourcing Network, the National Fastener Distributors Association and Baird. Web: fdi.com
