China's LED lighting products will be raised by 5-8% in the US market
According to industry sources, with the 12:01 noon on May 10, the United States officially imposed tariffs on 200 billion US dollars of Chinese exports to the United States, and the tax rate was raised from the original 10% to 25%. The LED lighting products made in China are Retail prices in the US market are expected to rise by 5-8%.
The source explained that the tariff increase will not be fully reflected in the retail price, because the tariff rate is based on the FOB (on-board delivery price), while the retail price for the end user is 3-4 times the corresponding FOB price.
At present, about 85% of LED lighting products in the global market are assembled in China. The US market accounts for a large part of global demand. It is expected that this tariff increase will have a significant negative impact on Chinese LED lighting manufacturers.
In the US market, American lighting company Acuity Brands decided to increase the retail price of some LED lighting products by 15% from May 15th, including other lighting suppliers such as Eaton, Venture Lighting International, RAB Lighting, Sylvania and Universal Lighting Technologies. Maybe it will follow suit.