Stanley Black & Decker does not expect recent adjustments to tariffs on imported metals to impact its financial projections for the year, company officials said Monday.
The tool maker said in a brief statement that the changes to “the Section 232 tariff regime” would likely not have a “material impact” on its full-year guidance.
The Trump administration earlier this month made a series of changes to duties on steel, aluminum and copper imports under Section 232 of the Trade Act of 1974. Reuters reported that select manufacturers that use imported metals in their products would now see a 25% tariff on the entire product, rather than the previous 50% duty on just its metal content.
Stanley Black & Decker will report its earnings for the first quarter of the year next week.
