Reports of increased tariffs continue to circulate as the trade war between the United States and China continues. For an overview of the original tariffs, check out our article about how it will affect the glass industry.
New developments have required us to revisit this topic, however. Recently, the Wall Street Journal reported that some goods, including many items necessary in the glass industry and the construction industry at large, will be taxed at 25% instead of the previously mentioned 10%. The administration has been largely ambiguous about which items would receive the 25% hike and which would stay at 10%.
President Donald Trump has threatened to enact the tariffs since his inauguration to combat what he has called “manipulation.” On Monday, August the 20th, President Trump reiterated his 2017 remarks by saying, “I think China’s manipulating their currency, absolutely. And I think the Euro is being manipulated also.” (Source: Bloomberg)
The effect, and enactment of these tariffs is uncertain, but that uncertainty should motivate glass industry professionals to safeguard against the possibility of drastically increased pricing on imported glass. We put together a guide on imported glass and how the whole process works, and you can download it for free by clicking the link below.
Just understanding the import process isn’t going to be enough if and when the tariffs are enacted. To make sure your business is stable and can ride the wave of increased prices, you must take steps to diversify your supply. That’s where we can help.
We’re calm because Barrett Limited has put together a U.S.-based team that has employees across the globe to manage logistics, vet factories, and handle all the issues that make international glass so difficult to buy. To learn more about how you can start diversifying your glass supply, drop us a line and let us know how we can grow your business together.