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