Canada will impose a 25% safeguard tariff on certain steel products, including fasteners, effective December 26. This move, taken after failed efforts to convince the US to lift its steel tariffs, is expected to impact Taiwan’s fastener industry.

Canada is the fifth-largest export market for Taiwanese fasteners. In the first ten months of this year, Taiwan's screw exports to Canada reached around 41,200 tons, rising by 4.7% year on year, with the export value also rising.

Market participants expect the 25% duty will limit this growth. Since Taiwan’s exports to Canada constitute about 4% of its total screw exports, the impact on the Taiwanese industry is predicted to be greater than the effect on China.