Those who follow the news have no doubt heard about Donald Trump’s propsed tariffs on Chinese goods. The initial tariffs imposed a drastic 20% on steel and aluminum products. These tariffs only applied to raw materials imported to the United States, so we were basically unaffected. Regardless of the impact on our business, we are against tariffs and protectionist policies in general.
Now, Trump has added tariffs to all $200 billion Chinese products. These 10% tariffs took effect September 24, and by January 1 will increase to 25%. Some experts predict these tariffs could increase the price of Chinese goods 40 – 50%.
At Joykey, we always strive to provide our customers with the lowest possible pricing. However, there are limits. If our costs increase 40 – 50%, we will have no choice but to pass some of that onto our customers. We absolutely believe in an open global market, and that protectionist trade policies are a mistake.
If you believe that tariffs are not the answer to China, please contact your local representative and let them know. We will update this article as necessary, please check back for updates.