Tariffs News
Dear Baby Lock Customers,
The United States has implemented reciprocal tariffs on countries around the globe. The wide-reaching tariffs will have a significant impact on the sewing, vacuum, and commercial floor care industries which Tacony Corporation serves. We import finished goods, parts, and manufacturing components from across the globe, including Japan, Taiwan, Vietnam, Thailand, and various countries in Europe.
The tariffs are substantial; our team is working diligently to analyze the true impact of the tariffs as we are developing a plan which puts both you and Tacony in a position to manage the impact. We are expecting the government to make frequent changes, so open lines of communication with our valued partners will be vital. We are committed to transparent and prompt communication as we navigate the global tariffs together.
Due to the scale and immediacy of the tariffs, it is clear we will not be able to absorb the full impact. We expect the need to pass along portions of the higher cost of goods in the form of a tariff surcharge, allowing us to adjust the surcharge up or down with changes in tariff rates. There may also be a need for price increases, both wholesale, MAP, and MSRP based on the product.
We are working to understand the full impact, placing urgency and dedicated resources to move swiftly and intentionally over the coming days. Please expect an email with specific details soon.
Thank you for your patience, flexibility, and continued focus as we navigate the evolving global tariff situation together.
Sincerely,
Baby Lock
Dear Lumin Fabrics Customers,
A Message to Our Customer Community
Given the ongoing discussions about tariffs and their potential market impact, we want to clearly outline our approach and reaffirm our commitment to our valued partnership.
While a 90-day pause was announced on Wednesday, April 9th, we sincerely hope for resolutions that prevent cost increases. Regardless, we believe in proactive and transparent communication during this evolving situation.
Our current List prices will remain in effect. We are actively working with our mill partners to secure cost reductions should tariffs be implemented. Furthermore, Lumin Fabrics is prepared to absorb a portion of any tariff as part of our ongoing business operations.
A tariff surcharge will be calculated based on the actual tariff, minus any cost reductions from our mills and the portion absorbed by Lumin Fabrics. Our primary goal is to minimize disruption for our retailers and consumers, ensuring a fair and flexible approach. The effective date is scheduled for May 1.
The tariffs have created much disruption to the global supply chain and have caused a global slowdown. And while we are unsure of the effects of these slowdowns, there is a possibility that this could cause delays in the delivery process. We will do our best to relay the message should there be any delays.
We deeply value your continued support and partnership as we navigate these evolving circumstances. We are confident that by working together, our industry will continue to thrive, and Lumin Fabrics will remain dedicated to providing quality fabrics that inspire creativity and bring joy to the quilting community.
All the best,
The Lumin Fabrics Team
