June 13, 2018
Dear Valued Business Partners,
On May 31st this year, President Trump, based upon the recommendations made by the Department of Commerce, expanded the tariffs on steel (including stainless steel), and aluminum to include Canada, Mexico and the European Union. The impact of these tariffs is significant and far reaching. While these tariffs continue to be discussed actively, including this past weekend’s G-7 Summit, our producing mills have reacted swiftly to include these charges immediately. We are witnessing this increase on all products that require these metals and continue to receive communications from our supply chain announcing immediate increases.
While we have attempted to stave off price inflation and have absorbed some of the increases seen at the start of the year, we can no longer ignore the reality of the tariff impact and will be adjusting pricing immediately to incorporate these new charges.
I have enclosed two of the most recent communications regarding pricing for your reference-please feel free to utilize these documents in conversation with your partners as well.
We continue to work with our supply chain and government representatives to mitigate these charges. We are committed to keeping you informed and will adjust accordingly as this dynamic situation continues to evolve. We appreciate your support and look forward to working through these issues in a positive, productive manner.
TEK Stainless Piping Products