The tariffs imposed by the U.S. administration begin at 10% and rise significantly for some countries—with China, our largest trading partner, now facing a tariff rate of 145% and rising. We will be transparent with what to expect and how we are responding.
Short-Term: For goods with domestic inventory most suppliers are maintaining current pricing until May 31, 2025. We are committed to fulfilling these orders without disruption or price changes. As price increases are imposed by suppliers with depleting inventories, we will have to increase ours accordingly.
We already have an initiative in place for factory direct imports to bring products to our clients at the best possible pricing over domestic inventoried items and will continue to expand on the products available through this initiative. We are working diligently with our overseas factories to stay current with any price fluctuations.
Supply Chain: Many of the products we supply—and that you sell—are primarily sourced from China due to unique manufacturing capabilities and the absence of alternative sources that meet the same quality, scale, or specifications. In the most recent Covid-related supply chain disruptions, some suppliers sought to move production to other regions; however, in this current environment, the countries that may be exempt from tariff pressures is uncertain at best. In this light, we will continue to work with our trusted partners in China as much as possible.
Long-Term: Should tariffs be reduced through global negotiations or shifts in trade policy, we will reevaluate pricing accordingly.
Thank you for your continued partnership and trust in our services. Please reach out with any questions you may have.
With warm regards,
The Stonestreet Management Team
Patti Chavin, JOAT, pchavin@stonestreetmarketing.com
Larry Pesses, VP Sales, lpesses@stonestreetmarketing.com
Kip Pesses, Director of Marketing, kpesses@stonestreetmarketing.com