According to foreign media reports, a few days ago, the US lighting manufacturer Eaton Lighting issued a notice to its dealers and agent partners that the company had to announce a price increase of 6% due to the impact of raw material price increases and tariff increases.
The following is the specific content of the notice:
Currently, the lighting industry continues to face cost increases in several key areas, including electronics, metals and other commodities, transportation and wage inflation. In addition, the US Department of Commerce and the US Trade Representative Office (USTR) have announced tariff increases, affecting the cost of many products and components.
Therefore, we announce the following: The price of most lighting and lighting control products has increased by an average of 6%, effective October 1, 2018. Orders placed on or before September 30, 2018 will be invoiced at the current price. Previously quoted items are valid until September 30, 2018. The quotation received after October 1, 2018 will be at the new price.
The US government has imposed tariffs on parts and finished products from China, which has forced us to respond to the affected products at a correspondingly higher price.
★ On July 6, 2018, the United States imposed a 25% tariff on Chinese products worth $34 billion. On August 23, 2018, the United States imposed a 25% tariff on Chinese products worth $16 billion. These tariffs are expected to affect the cost of future material supplies.
★ The United States imposes tariffs on Chinese goods worth US$200 billion. This is under planning. If implemented, it will have a significant impact on costs.
We are currently evaluating the impact of these tariffs on our products. We will continue to inform you of additional costs associated with customs duties in the coming weeks. We are committed to serving our business partners and will continue to invest in research and development and provide innovative, cost-effective lighting solutions. We value your business and thank you for continuing to support us in meeting these market challenges.
