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Section 301 Tariff Increase 2024
The U.S. Trade Representatives (USTR) have finalized new modifications to the Section 301 trade actions, increasing tariffs on certain Chinese imports. As of September 2024, tariffs on critical minerals including tungsten concentrates, oxides, carbide powders and tungstates (wolframates) have increased to 25%.
What does this mean for GTP and our customers?
At GTP, our robust recycling programs allow us to source secondary raw materials from domestic and international suppliers in locations unaffected by the tariffs.
With this strategy we can source material sustainably, avoiding any tariffs and minimizing the risk of disruptions, long lead times, price hikes, and uncertainty in our supply chain.
Additionally, we utilize our strong, long-term relationships with our partners like the Almonty Group for mined tungsten concentrates in Portugal, Spain, and Korea.
With our production plants located in the U.S. and Europe, our production and distribution stay local, and we can pass along the same security and stability to your supply chain.
Our commitment to you
GTP is dedicated to keeping your operations running smoothly with a strong and reliable supply of tungsten and tungsten carbide powders.
Think Tungsten. Think GTP.
