This might still be new or early on, but what product or categories are most affected by the recent tarrifs? Should we avoid them all together? How can we mitigate the additional cost?
Hi @WingSpan 
The recent tariffs imposed by the U.S. on imports from Canada, Mexico, and China are likely to affect a wide range of consumer products. Here’s an overview of the most impacted categories and strategies to mitigate the additional costs:
- Electronics: Products like laptops, tablets, smartphones, and video game consoles are expected to see price increases due to the tariffs on Chinese imports.
- Automobiles: Vehicles and car parts imported from China, Canada and Mexico will be significantly impacted, potentially increasing car prices by up to $12,200 for some models.
- Groceries: Some food products imported from Canada and Mexico may become more expensive.
- Steel and Aluminum Products: These tariffs are expanded and increased, affecting goods made from these materials.
Avoiding these products entirely might not be practical or necessary. Instead, consider the following strategies to manage the increased costs:
- One approach is to diversify our suppliers, which reduces dependency on a single source and helps us find options with lower tariffs. Additionally, sourcing materials and products locally can be a great way to avoid import tariffs altogether.
- Reevaluating your product designs by using alternative materials or components that are subject to lower tariffs can also make a significant difference. It might be a good idea to increase your inventory before the tariffs take effect to avoid higher fees later on.
- Lastly, having a conversation with your suppliers about cost-sharing or price adjustments can help manage the impact of the tariffs. By implementing these strategies, you can better handle the situation and minimize its effect on our business.
I hope this helps! Let me know if there’s anything else you’d like to add.
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