Chin Well clarifies impact of US tariffs on its manufactured fastener and wire products

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The story "Chin Well clarifies impact of US tariffs on its manufactured fastener and wire products" was covered 10 hours ago by The Star, a news publisher based in Malaysia.

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The Star 10h ago

Chin Well clarifies impact of US tariffs on its manufactured fastener and wire products - The Star

Quick Summary:

PETALING JAYA: Chin Well Holdings Bhd has clarified that the 24% and 46% reciprocal tariffs on Malaysia and Vietnam, respectively, will not apply to the import into the US of the group's manufactured fastener and wire products.

In a filing with Bursa Malaysia, the company nevertheless said its fasteners and wire products imported to the US will be taxed at 25% under Section 232 of the Trade Expansion Act 1962 announced on 26 March 2025.“Barring any unforeseen circumstances, the group is resilient and cautiously optimistic that the imposition of the 25% tariff under Section 232 of the Trade Expansion Act 1962 will not have any significant impact on the group’s performance in the remaining quarters of the current financial year.