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The export of household hardware industry ushered in a positive trend

2022-08-30


Recently, the U.S. Trade Representative Office (USTR) issued a statement announcing that 352 items of imported goods from China will be exempted from tariffs from October 12, 2021 to December 31, 2022. The products exempted from tariff this time include ductile iron angle cock valve body, portable outdoor cooker kit, grill composed of steel wire, steel kitchen and dining utensils, screw jack and scissor jack, gas ignition safety controller and other household hardware

Some experts believe that this is a good start, which benefits the manufacturers of 352 products, including related household and hardware products, as well as manufacturers and consumers in the supply chain and consumption chain. At the same time, it can indirectly stimulate other products and supply chains that expect exemption.

Industry enterprises generally believe that this adjustment will have a certain positive impact on the future development of household hardware export business, but still maintain a cautious and optimistic attitude. The person in charge of a leading household furnishing enterprise believes that the tariff exemption is a continuation and confirmation of the tariff exemption for 549 Chinese imported goods to be re exempted in October last year. There are not many types of industries involved, and the direct benefits are not great. However, this tariff exemption at least shows that the trade situation has not deteriorated further, but is changing to a better direction, which has established confidence for the industry and is conducive to future development.

Relevant listed companies in the industry also made public responses to the tariff exemption. Superstar technology said that the office of the U.S. trade representative announced the latest 352 items of goods for which the exemption period has been extended. Among them, superstar technology mainly includes some household products such as lockers, hat racks, hat hooks, brackets and similar products; Led hand lamp work lamp; Electrical tape and other special products; Small vacuum cleaners, etc. Since the involved period is from October 12, 2021 to December 31, 2022, it is expected that there will be no impact on the performance forecast of the company in 2021 and a certain positive impact on the business of the company in 2022.

According to the published tariff exemption list, Tongrun equipment has preliminarily judged that there is a class of metal hanging plate products in the tariff exemption list. The company's sales department and technical department are interpreting the details of the list and will further confirm the scope of the tariff exemption list with American customers. Tongrun plans to set the export price FOB, so this tariff exemption has no substantial profit impact on the products that have been exported since October 12, 2021. In the future, if any products are included in the tariff exemption list, it will be conducive to the development of the US market in the future.

In response to investors' questions, Wanhe electric also disclosed that its products exported to the United States are mainly gas ovens. According to the company's preliminary verification, the company's products are less involved in the US tariff exemption list for imported goods from China, which has a positive impact to a certain extent. The company will continue to pay close attention to the subsequent changes in relevant policies.

Experts said that although the tariff exemption has brought benefits to the industry, the duration is from October 12, 2021 to December 31, 2022, and it is difficult to estimate whether it will survive after the expiration. Therefore, the enterprises involved do not need to rush to make business adjustments, but should continue to expand the market and supply chain, and avoid possible trade risks while stabilizing exports.
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