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During the Sino-US Trade War, How do Chinese Fastener Enterprises React?

By CFM , 2018-11-03 12:00:00

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On October 31st, 2018 (local time), US International Fastener Expo had its Grand Opening in Las Vegas. 

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This expo lasted for two days. 684 famous enterprises from 18 countries were on spot, which were mainly from Canada, Taiwan, Mexico, mainland China, India, Japan, Australia, the UK, Germany and Italy, etc. There were 240 enterprises from mainland China and 99 enterprises from Taiwan. Hong Kong Screw and Fastener Council also attended this expo. 

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Hong Kong Screw and Fastener Council

Lin Zhiming, forever honorary chairman of Hong Kong Screw and Fastener Council, told ChinaFastener.com that the aims of this trip were to help small and intermediate enterprises of Hong Kong screw and fastener industry to promote their capability and strength to the European and American market, and assist small and intermediate enterprises entering high value-added market of European and American market. With this hope, they also brought some samples relating to aviation and medical treatment.

Hu Huiyi, chairman of Hong Kong Screw and Fastener Council, stated that this trip received overwhelming support from Hong Kong screw and fastener enterprises. In the future, Hong Kong Screw and Fastener Council would organize more activities like this, in order to provide more chances for Hong Kong screw and fastener enterprises to develop international markets.

Many famous Chinese enterprises attended in this expo, including Jiangsu Washen Fastener Manufacture Co., Ltd., Beijing Jinzhaobo High Strength Fastener Co., Ltd., Dongtai QB Stainless Steel Co. Ltd., Foshan Guangqingchang Metal Plastic Co., Ltd., Haiyan Guangda Hardware Co., Ltd., Jiaxing Xingxin Standard Heat Treatment Co. Ltd., Ningbo Echo Fastener Factory, Shanghai Fast-Fix Rivet Corp., WAFIOS (Shanghai) Machinery Co., Ltd., Suzhou YNK Fastener Co., Ltd., Yuyao Xintai Harddware Co. Ltd., SRC Metal (Shanghai) Co. Ltd., etc. 

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Jiangsu Washen Fastener Manufacture Co., Ltd.

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Beijing Jinzhaobo High Strength Fastener Co., Ltd.

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Dongtai QB Stainless Steel Co. Ltd.

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Foshan Guangqingchang Metal Plastic Co., Ltd.

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Haiyan Guangda Hardware Co., Ltd.

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Jiaxing Xingxin Standard Heat Treatment Co. Ltd.

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Ningbo Echo Fastener Factory

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Shanghai Fast-Fix Rivet Corp.

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WAFIOS (Shanghai) Machinery Co., Ltd.

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Suzhou YNK Fastener Co., Ltd.

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Yuyao Xintai Harddware Co. Ltd.

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SRC Metal (Shanghai) Co. Ltd.

During the opening of the expo, many concurrent workshops were held, which the topics were relating to technology innovation, policies, production management, industry development and industry know-how, etc. Through listening to the speeches of leaders of the industry, audience absolved the cutting-edge knowledge at a very short time. Many audience thought they learned a lot from the workshops.

The US is the third biggest export market for Chinese fastener industry, while China is the second biggest import market for America. However, on September 18th, 2018, US government declared that since September 24th, 2018, tariff on goods worth of 200 billion US dollars imported from China would increase by 10%. Since January 1st, 2019, tariff would increase by 25%. Industries of aviation, information technology and machinery are on the list. When being asked about whether Sino-US trade war has affected their business, some Chinese exhibitors mentioned that they were indeed affected, so they were still considering whether to attend the next US International Fastener Expo.

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On Spot

On the contrary, American buyers were rather worried about this situation, because most of their goods were from China. If more and more Chinese suppliers exited from US market, their purchase may be serious affected. At present, fastener industry remains depressed. Both exhibitors and buyers agreed that they would face greater challenge next year.

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Buyer and ChinaFastener.com Journalist 

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Buyer and ChinaFastener.com Journalist

To be exact, the impact of Sino-US trade war will not appear overnight. What enterprises should do is to well prepare for it. For example, large enterprises may build plants overseas, and small business may develop domestic market or new export market.

During the exhibition, many exhibitors and buyers showed keen interest in th 24th issue of ChinaFastener Magazine, and some buyers even hoped that ChinaFastener.com could introduce more suitable suppliers to them. So far they have not yet planned to swift to South-Asia market. Is the Sino-US trade war an opportunity or challenge for Chinese fastener enterprises? It all about how you react.

The next US International Fastener Expo will be held from September 17th to 19th, 2019.For additional information, please contact ChinaFastener.com at (+86-20)82270680, email editor@chinafastener.com or visit the website at www.chinafastener.com. 

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