Regardless of political affiliation, it’s important to discuss how recent developments in the trade war with China are affecting the promotional product industry. Here are the top three things to note:
- A 10% tariff has been imposed on nearly half of all goods imported from China, and is slated to increase to 25% by early next year.
- Goods affected by the tariffs range from “auto parts to luggage to seafood to industrial machinery.”
(Note: even factories in the US will be affected because of supplies or machinery imported from China)
- The total impact at the moment is unknown; however, there will likely be pricing increases on upcoming orders and re-orders.
Some examples of top categories that will be affected by the tariffs:
- Lip Balms/Sunscreen/Hand Sanitizer
- Plastic Drinkware Lids
- Tools/Key Chains
- Power Banks
- Charging Cables
- Folding Chairs
If you have any projects you’d like to lock in before the end of the year, drop us a line!
We’re going to stay tuned on this! Please let us know if you have any questions as time goes on.