China Tariffs are hurting competitors, helping GWR gain market share in the U.S.
The United States implemented significant changes to its trade policy, specifically with China. First it was a tariff on a number of goods imported from China that accounted for around $50 billion. Then the United States announced an additional round of tariff hikes on imports from China. Finally, President Trump announced new tariffs on $200 billion of additional Chinese goods, with the import tax rising first to 10%, and then 25%. HS Tariff Code 8708.21.00 – safety seat belts – is included in this list of affected Chinese goods.
There are only a few actual seat belt manufacturers, and we are the only one in the U.S. that does not source from Asia. Because our competitors source most of their product offerings from China and Asia, the increase from 2.5% to 25% has been a direct hit to their bottom line, and as a result they have raised prices. Because GWR is not dependent on China for its supply chain, this is good news for us. We continue to offer competitive prices to all of our customers. We welcome the new customers that have come to us as a result of our competitor price increases, and with we continue to offer the best products and service in our industry. Thanks for your continued support!
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