As you know, the U.S. government has released the details surrounding their reciprocal tariff plan which will impact the products we supply from several key regions.
New Reciprocal Tariff Rate, Effective April 9, 2025:
- China: 34% (on top of the 20% already applied earlier this year)
- India: 26%
- Vietnam: 46%
- Sri Lanka: 44%
- Bangladesh: 37%
- Thailand: 36%
- Taiwan: 32%
- Indonesia: 32%
- South Korea: 25%
- European Union: 20%
- Canada: 0%
These changes are part of a broader shift in U.S. trade policy and are being implemented across all marketplaces. This is an economic factor outside of our control, one that impacts the vast majority of industrial imports.
In the past, we have been able to shield our customers from as much of the previously announced tariffs as possible (25% in 2018 and 20% earlier this year). Please know that we remain committed to minimizing the impact of these new increases wherever possible.
In the coming days and weeks, there may be further changes as countries continue negotiating the impact of their new tariff rates. We will monitor the situation closely and promptly communicate any developments that affect our business and the products we supply.
In the meantime, we will reach out to each customer with active orders to inform you of the pricing impact. If you have any questions or would like to discuss how this may affect your specific situation, please don’t hesitate to contact us.
Thank you for your continued partnership. The more we work together, the stronger we’ll be.
Sincerely,
The GCP Team
