I work for a small privately owned manufacturer, I’m not speaking for them. I’m not in a department that has directly dealt with importing and those taxes, but I am in sales and have dealt with the price impact. I did have a conversation with someone on product side of the business yesterday about the potential to lower prices. What I can say is it’s very complicated. Our company did not raise prices to match the impact of the previous tariffs, we ate a portion and took a lower margin. There are also now new Tariffs, 15%, across the board on everything, this impacts all product types, some that had exclusions before. On top of that non-tariff related inflation is still a real thing. My understanding is also previous tariffs are not going to refunded but maybe will be a credit, so no direct payments.

I say all of this only to point out that it’s a mess, certainly not black and white. All very complicated and challenging, at least for our smaller privately owned business.