The White House clarified this week that the effective U.S. tariff rate on Chinese imports is now 125%, in addition to the original IEEPA tariffs of 20%. Other nations currently with a 90 day pause in escalation are now set at 10% across-the-board tariff. These are clearly unprecedented market conditions.
Accordingly, in addition to Section 232 tariffs of 25% for aluminum and steel products effective Tuesday, April 15th (as announced on April 3rd), Matco-Norca will also be implementing the increase outlined below on the same date. The percentage of increase by product group shown will apply to list pricing and all special net pricing.
The conditions for this price increase are evolving and subject to change. Mirroring all prior tariff increases we are unable to extend price protection or honor backorders at pre-tariff pricing.
Updated price lists will soon be available through your sales representative and on our website.
