Anti-dumping tax removed on some Special Metals imports
Tax is the last thing that most people want to discuss or read about. But here at Special Metals, we have recently witnessed some developments that will benefit us and the products that we sell.
Before Brexit, trade tariffs made it impossible for us to compete with Europe. However, the removal of the anti-dumping tax means we are able to offer more of the vital metals that you need, at a reduced price in the future.
You’re probably wondering what exactly anti-dumping tax is, how it affects us at Special Metals, and just what this reduction entails for our business going forward, right? Well, don’t worry, we have you covered in this blog post so you can learn more about this feat.
What is anti-dumping tax?
Anti-dumping tax is used to prevent imported goods from being sold at a much lower value than what they are sold for in their own country. ‘Dumping’ can be done by companies to eliminate their competition in foreign markets by offering much lower prices that will naturally be a more appealing option for customers.
To prevent this from happening, trade tariffs are implemented by the government, in this case, in the form of an anti-dumping tax. This duty can be applied via a fixed amount to ensure that the importer pays more and is not circumventing the market.
How it applies to our products
Here at Special Metals, we source many of our metals from abroad as we look to provide the best possible quality of products at all times. After all, if we advertise our incredible metals to perform as such, we want to ensure that we always give you the real deal!
With this in mind, the removal of the anti-dumping tax is a huge bonus for us and our service. It allows us to import more of the tough, durable metals that we provide at a cheaper price, so we can give our customers what they deserve, which includes our hugely popular refractory metals, such as tungsten.
We hope that our business can excel going forward as a result, offering more competitively priced products to a wider range of customers.
What products are affected?
The direct impacts of this change are twofold and come into play almost immediately. One of the metals that will benefit from this change the most is molybdenum wire, as this was one of the metals that were hit the most by the anti-dumping tax. Its removal post-Brexit means that the cost of importing this metal has been reduced by a staggering 63%, allowing us to compete with Europe in terms of our offerings.
Get in touch today
Would you like to find out more about which metals have been affected by the removal of the anti-dumping trade tariff? If so, the team of experts at Special Metals would be more than happy to provide you with the information you require.
To contact a member of our expert staff, simply give us a call on 01268 820409 or email us at sales@special-metals.co.uk, and we will get back to you as soon as possible. You can also fill out our online form.
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