FOR IMMEDIATE RELEASE:
Urgent Tariff Update
July 12, 2018
Dear Valued Customer;
As always, we at CMI work to keep our customers informed regarding the nail market and actions or activities that may impact your business either short and longer term. We had mentioned in our last update that we didn’t see the tariff situation coming into play at that point. With that said, just yesterday, the US government announced a proposed tariff on roofing nails and related items (in addition to thousands of other items) that will be in the 10% range. The proposed implementation date for the tariff is September 1st, 2018 and would impact orders (containers) delivering on that date and going forward.
Please click on the link here for the full list of items. This tariff may also effect many other items you buy for your business. While we are still assessing the impact to our customers, the 10% of the F.O.B. value would be in the range of $1.30 to $1.50 per box of nails.
We are still collecting more details and will keep you informed as the situation becomes clearer. We will provide additional information as we receive it to allow you to better plan for your business needs. Please let us know if you have questions.
Continental Materials, Inc. (CMI) is a national supplier of roofing system component materials and known for BUR (built-up roofing) asphalt with “No Smell”™ odor eliminating technology and its WeatherSeal™ protective packaging, All-Weather™ asphalt felts and coated organic rolls, CMI All-Weather™ modified bitumen rolls, SureGrip™ construction fasteners and roofing nails, Continental’s eco-friendly high density fiberboard roof insulation board and a premium line of SecureGrip™ synthetic roof underlayment products that are sold and used widely throughout the country. CMI has provided value added products and superior service to the roofing industry since 1958.
For more information on CMI products, call (215) 884-4930, visit www.continentalmaterials.com or contact your local CMI Sales Representative.