What impact will the Sino-US trade suspension of new tariffs have on the LED lighting industry?

On February 2, Xinhua News Agency released a message saying that on the evening of December 1, local time, the leaders of China and the United States reached a consensus on economic and trade issues between the two countries. The two sides decided to stop the trade restrictions such as upgrading tariffs, including not raising the existing tariff rate for each other, and not introducing new tariff-adding measures for other commodities. This means that China and the United States will not continue to impose new tariffs on goods, which means that Sino-US economic and trade frictions that have lasted for more than eight months have begun to turn around! What is the impact of this news on the LED lighting industry?

Since the Sino-US trade war, relevant companies in China and the United States have been affected to varying degrees, and LED-related companies are also taking possible countermeasures. Since May of this year, a number of lighting companies have implemented price increases on products. After China and the United States suspended the mutual tariff increase, the two companies announced a moratorium on price increases.

According to foreign media reports, Current announced that the price increase originally scheduled for January 1 is tentatively scheduled for April 1.

On December 5, Acuity issued a notice announcing the suspension of the price increase. The notice stated: "In November, due to the increase in the input cost of our products, including the impact of tariff increases, we announced that we will raise the price from January 2, 2019.

However, after the Sino-US trade negotiations on December 1, the Trump administration announced that it would suspend the new tariffs during the 90-day period of the trade negotiations. Therefore, we will not proceed with the January price increase plan. All other price increase measures previously announced and implemented are fully in effect and will continue to be implemented. If the tariff is raised within 90 days, the 15% price increase we announced previously will be implemented during this time. ”