WINONA, Minn. – The global industrial supplier Fastenal, based in Winona, has cut its imports from China in response of chaotic tariffs swings by President Trump. The company also has increased what it charges U.S. customers for remaining China-made products, thought to be by 3%, in an attempt to maintain profits. It’s tricky in the chaotic Trump environment. Since April the President has threatened new tariffs on imports from China ranging from 10% to a whopping 140% depending, it seems, on the day of the week and his mood. These fluctuations have disrupted supply chains significantly for U.S. companies. Trump’s unpredictability stalled most U.S. corporate expansion. Nobody knew what was next. There also has been distress at Trump bullying companies that import with threats of sanctions. Fastenal had imported 28% of its product from Asia through its subsidiary Fastco Trading Company in Shanghai. The current percentage, although reduced, hasn’t been reported. The Shanghai subsidiary also handles sourcing in Vietnam and Taiwan. Even with less importing from China. Fastenal noted it maintains “a strong sourcing presence in China” while also “increasing” sourcing from other countries.”
Fastenal databank
Fastenal, founded in Winona in 1968, has a local payroll of 1,800. Worldwide It’s 23,000. For the first half of 2025, through July, Fastenal reported sales of $4 billion, an increase 6% from a year earlier. The company’s publicly traded stock was buffeted badly in April when Trump launched his bewildering array of tariff hikes on imports from almost every U.S trading partner. Fastenal stock has since grown to $47 a share, compared to an adjusted $35 in the initial Trump turbulence.