StarTech
Lawn Royalty
- Joined
- Feb 19, 2020
- Threads
- 84
- Messages
- 10,782
Just reading the news and I see that US government is sticking it us by raising tariffs on imports again. It is bad prices are going up every month on parts but now we must start paying these additional taxes. Depending what we are repairing we paying up to 50% more in just normal price hikes this year. Many items have gone up at least 10% since last Fall.
This weekend I am updating many of my price files. Many of the items the costs is going up but retail prices are staying the same or only slightly increased. Otherwords they are sticking to the shops but expect us to hold the line on price increases to customer. I even have a few items where they wanted me to sale at cost. A negative profit when you include shipping. It really hurts when you are a small shop that don't always have $250+ orders that has free shipping.
On top that some vendors are charging convenience fees if you use a credit card. So items from those vendors I must increase the retail price by the same percentage of these fees. 3-5% may not sound like a lot but it does adds up quickly.
And to top this off my local Tax Assessor just double my property appraised value which is basically just double my property taxes since last year. A lot pissed home owners in my county now. They even taxing my paved driveway. What next? Taxing the air I breathe?
The White House specified the following tariff hikes Tuesday on Chinese goods:
The tariff rate for electric vehicles will quadruple, rising from 25% to 100% this year.
Certain steel and aluminum products will rise from 0–7.5% to 25% this year, and battery parts will rise from 7.5% to 25%.
Lithium-ion EV batteries will jump from 7.5% to 25% this year, while lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026.
Certain other critical minerals will increase from zero to 25% this year.
Solar cells will increase from 25% to 50% this year.
Syringes and needles will go from zero to 50% this year.
Certain personal protective equipment, including certain respirators and masks, will increase from 0–7.5% to 25% this year.
Semiconductors will increase from 25% to 50% by 2025.
Natural graphite and permanent magnets will increase from zero to 25% in 2026.
Rubber medical and surgical gloves will increase from 7.5% to 25% in 2026.
This weekend I am updating many of my price files. Many of the items the costs is going up but retail prices are staying the same or only slightly increased. Otherwords they are sticking to the shops but expect us to hold the line on price increases to customer. I even have a few items where they wanted me to sale at cost. A negative profit when you include shipping. It really hurts when you are a small shop that don't always have $250+ orders that has free shipping.
On top that some vendors are charging convenience fees if you use a credit card. So items from those vendors I must increase the retail price by the same percentage of these fees. 3-5% may not sound like a lot but it does adds up quickly.
And to top this off my local Tax Assessor just double my property appraised value which is basically just double my property taxes since last year. A lot pissed home owners in my county now. They even taxing my paved driveway. What next? Taxing the air I breathe?
The White House specified the following tariff hikes Tuesday on Chinese goods:
The tariff rate for electric vehicles will quadruple, rising from 25% to 100% this year.
Certain steel and aluminum products will rise from 0–7.5% to 25% this year, and battery parts will rise from 7.5% to 25%.
Lithium-ion EV batteries will jump from 7.5% to 25% this year, while lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026.
Certain other critical minerals will increase from zero to 25% this year.
Solar cells will increase from 25% to 50% this year.
Syringes and needles will go from zero to 50% this year.
Certain personal protective equipment, including certain respirators and masks, will increase from 0–7.5% to 25% this year.
Semiconductors will increase from 25% to 50% by 2025.
Natural graphite and permanent magnets will increase from zero to 25% in 2026.
Rubber medical and surgical gloves will increase from 7.5% to 25% in 2026.