I hope this email finds you well. We would like to inform you of a recent development regarding international trade. As of yesterday, the U.S. government has announced retaliatory tariffs that will extend to imports from India, which will impact our business moving forward.
Tariff Amounts:
The current tariff for FIBCs from India is 8.4%.
Effective April 5th, a partial increase of 10% for a total of 18.4% will be imposed and will last through April 8th.
Effective April 9th, the full 26% tariff increase will be imposed, bringing the total duty rate to 34.8%.
How Will Tariffs Be Applied?
These new tariff amounts will be applied to containers at the date for which the container is gated into the origin port and thereby on its “final leg” in the transportation process. The exception to this rule is if the container is transshipped, in which the tariff rate would be applied at the time when the vessel departs the final port. Any orders currently on their final leg will not be subject to the tariff increases.
How Will This Affect My Pricing?
Our team is working to determine how best, and at what amount, the increased tariff costs will be shared with our customers. We expect to have a resolution on this matter in the coming days and will communicate directly with all affected customers.
As always, we are committed to keeping you updated on any changes that could impact your orders or shipping. Please feel free to reach out to your sales representative if you have any questions or need more details on how this might affect your current or upcoming orders.
Thank you for your continued partnership. We look forward to working with you and navigating these updates together.