Trump's gross stupidity and recklessness is rapidly working it's way through our once thriving economy and will be reaching you very, very soon. These letters are flying through my industry.
We are in the unfortunate position of needing to increase our prices on many XXXXXXX
effective May 1. Specific product increases are provided
below.
We have all been subjected to growing economic uncertainty and turmoil in the last few
months. As we write this letter, we do not know which of our raw materials and finished
products are or are not subject to various tariffs that have been placed, modified and/or
removed in the last 30 days. What we do know is that many of our suppliers have recently
increased their prices in response. The CRU Index, the most widely used price benchmark in
the U.S. steel market and an index off which most of our steel purchases are priced, has
increased almost 25% in the last five weeks. Likewise, aluminum prices have increased by
almost 20% in the last twelve months. We source 100% of our steel and aluminum
domestically – our domestic suppliers, anticipating greater demand for U.S. made material,
are using the threat of tariffs on imported product to raise their prices. Shipping rates have
also risen as many large importers are double and triple-ordering product from Asia to “beat”. any tariffs that may be imposed.
