May 15th, 2019
Last Friday’s 301 tariff increases, raising existing tariffs from 10% to 25%, is having an immediate impact upon our company’s manufacturing and distribution costs. Additional uncertainty was created on Monday when the office of the U.S. Trade Representative published a list of an additional 3,805 items that may be subject to a 25% tariff effective next month.
As a result of this market uncertainty, manufacturers of both raw and finished product have reacted this week, increasing prices to us in the 10 to 15% range – some increases are immediate; some are effective this coming Monday, the 20th.
Pacific Coast Bolt Corp. and you, our customer, have been through this before when the initial 10% tariff was imposed last year. Our company tried very hard to mitigate the effects of the 10% tariff then and we will do our best to mitigate Friday’s 15% increase.
For our customers who have proposals pending, please contact your Pacific Coast salesperson and let’s review together how we can best meet your future bolting needs.
Director of Business Development