Last month our suppliers sent letters to their distributors (including Lykki) notifying them of three separate tariffs on categories that affect our business being enacted at various times. Two have already been put into place, which have had nominal impact on our business; however, the third will definitely impact a large number of the SKUs we sell. The White House announced this week that tariffs on this third list are being enacted in two phases. On Monday, September 24, a 10% tariff will be levied on an estimated 4,700 items that Lykki and other office supply distributors sell.
Unless negotiations between the USA and China result in a change in the current plan, an additional tariff of 15% will be put on these products, effective January 1, 2019. These tariffs will have a significant impact on the office products industry.
Our Merchandising & Pricing Team are working diligently with our suppliers, ascertaining updated information relative to impact so as to provide you, our valued customers, with accurate information as soon as possible. Thank you.