FOR IMMEDIATE RELEASE:
Latest Tariff Update
August 2, 2018
Dear Valued Customer;
Tariff Update: It became known on Wednesday that the U.S. administration is considering raising tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent that was previously announced in July. As we are aware, this has been done in a bid to pressure Beijing into making trade concessions. As we have also noted prior on the 10 percent tariff, this may happen or may not happen but you need to be informed that this is 150% more than originally announced, if that 25 percent tariff goes in to affect in full.
As we had previously discussed, all nail orders previously processed are being shipped with the agreement with the customer that the orders will be invoiced “plus the applicable tariff”. All new orders on products effected are being sold “plus the applicable tariff”.
There is really no way to know the tariff amount before the material arrives since the tariff is only in effect when it becomes final and then when material clears U.S. Customs.
This significantly changes the landscape of only a couple weeks ago and we wanted to make sure you are well informed to allow review and adjustments of inventories and materials arriving prior to any tariff since it now may be even more significant on all of the products affected.
As always, please feel free to contact us if you have any questions. We appreciate your support.
Continental Materials, Inc. (CMI) is a national supplier of roofing system component materials and known for BUR (built-up roofing) asphalt with “No Smell”™ odor eliminating technology and its WeatherSeal™ protective packaging, All-Weather™ asphalt felts and coated organic rolls, CMI All-Weather™ modified bitumen rolls, SureGrip™ construction fasteners and roofing nails, Continental’s eco-friendly high density fiberboard roof insulation board and a premium line of SecureGrip™ synthetic roof underlayment products that are sold and used widely throughout the country. CMI has provided value added products and superior service to the roofing industry since 1958.
For more information on CMI products, call (215) 884-4930, visit www.continentalmaterials.com or contact your local CMI Sales Representative.