The tariffs on $200 billion in Chinese goods announced Monday by the Trump Administration officially include several 12 volt products.
The final list of goods to receive a 10 percent tariff as of September 24 (increasing to a 25 percent tariff on January 1, 2019) includes amplifiers, blind spot detectors and backup cameras, according to the Consumer Technology Association.
Bluetooth devices, previously slated for a tariff were dropped from the list.
You can see the complete final tariff list here. It’s includes car amplifiers (HTS code 8518.50.00) listed as “Electric sound amplifier sets;” and blind spot detectors (HTS code Sensors: 8708.29.50) listed as “Pts. & access. of bodies for mtr. vehicles of headings 8701 to 8705, nesoi”; and back up cameras: (HTS code 8525.80.30) listed as “Television cameras,” said the CTA.
Most suppliers we contacted are still assessing the impact a 10 percent hike in costs will have on their products.
Rockford and Phoenix Gold said they have no comment on the subject. Others commented off the record only.
One supplier said it will raise prices either October 1 or November 1.
Other suppliers have hedged their bets by stockpiling products so they have time to wait and see how the trade war develops.
As noted by Paul Goldberg, VP Sales & Marketing for Epsilon (Soundstream, Power Acoustik), “In addition, we are uncertain as to the duration of these punitive tariffs since they are obviously a part of the President’s negotiation strategy with the Chinese Government. I would assume that they will be rolled back if the negotiations are successful.”
Goldberg added, “We have contracts in place with customers that require notification periods for price increases that are up to 1 year (most are 60-90 days). So we are limited in how quickly we can respond.”
So some suppliers may delay a price hike.
Many are still deciding on plans. Kicker (Stillwater) VP Business Development Rob Limbaugh said, “At this point in time we are still formulating a plan to deal with the tariffs.”
Following up on the earlier tariffs implemented on Chinese goods, Race Sport said it has not yet seen a 25 percent tariff on its duty bill for LED lights and so it has not yet passed on a price increase. See story on tariffs implemented earlier this year here.
Photo: Reuters
