On July 6th 2018, the Trump administration rolled out a 25% trade tariff on
$34 billion of steel, aluminum and other goods imported from China.
That same day, China responded with $34 billion in tariffs on US-imported goods.
Two world powers are now in a trade war and businesses in almost every industry are being affected worldwide.
WHAT DOES THIS MEAN?
Trump's tariffs are taxes on imports designed to boost US production of goods. All Convectium products are engineered in the US but several are produced in our factories in China and imported. This is the industry standard so we are one of many being impacted. Last week, CannabisNow reported the pain of several companies like ours.
Gregg Gorski of Smokebuddy put it this way: “Our costs went up by 25 percent so we have to add another 25 percent to our price when we sell to our distributors. So they have to raise the price when they sell to the store, and store has to raise the price when it sells to the end-buyer.”
WHAT CAN WE DO?
We know this is painful. We feel it, too.
We have decided to not pass the whole burden onto you.
We value your business and want to shield your profits from the full impact of this.
Convectium products will not increase
by the full 25% Trump Tariff.
LOOKING TOWARD THE FUTURE
Pricing will increase industry-wide. We are all affected.
As a company, we have decided to take less profits and pay a portion of this 25% cost increase on your behalf. Consider this a discount. Pass it along to your customers or keep it for yourself - the choice is yours.
We don't know what other tariffs will be issued or what other countries Trump aims at next. What we do know is that we believe in our industry and are committed to growing the businesses that trust our products.
Want to see how this will effect your state?
Check out the U.S. Chamber of Commerce's Interactive Map.
We can’t predict the future but we can take this on together.
Call us anytime: (800) 605-3580