The manufacturer has previously spoken about the Trump administration’s tariff policy as a “large shock” to the industry.
New Britain-based toolmaker Stanley Black & Decker says it does not expect changes to the U.S. tariff regime, announced earlier this month, to have a material impact on the company’s full-year financial guidance.
The manufacturer has previously spoken about the Trump administration’s tariff policy as a “large shock” to the industry, and has raised prices and moved production out of Asia to counter their effects.
In early April, Trump issued a presidential proclamation modifying the application of what are known as Section 232 tariffs on steel, aluminum and semi-finished copper products.
Section 232 refers to a provision of the Trade Expansion Act of 1962 that allows the U.S. government to impose tariffs on imports deemed to be a threat to national security.
All tariffs imposed on steel, aluminum, and copper products will now apply to the full customs value of the imported product, including derivative products. Previously, tariffs on derivative products were calculated by splitting the customs value between steel, aluminum, copper, and non-metal content.
The changes have sparked widespread concern across manufacturing and industrial sectors. But Stanley Black & Decker has moved to reassure stakeholders ahead of its upcoming earnings release.
The company is scheduled to provide more information about the tariff announcement on its first quarter earnings call on Wednesday, April 29.
