The British Association of Fastener Distributors has estimated that, over a 5 year period, the duties could represent an additional taxation burden on British industries as diverse as engineering, electronics and construction as well as on the consumer of GBP 8 million. Although stainless steel members of the Association have reviewed sourcing strategies to limit the impact on their customers, the duties or the additional cost of purchasing more products from European manufacturing sources are likely to mean an average 15% increase in the cost of stainless steel fasteners to industry.
