Starting April 5, the Trump administration enacted the first round of tariffs on all imported goods coming into the United States. This first round of tariffs, called the reciprocal tariff, has a near 10% flat fee on all export countries. To see an explanation of what this means for you, please see below.
Before April 5, most jewelry items that we sell had a 5.5% tariff rate. This would apply to the Italian chains, CZ items, ID bracelets, etc. Starting on April 5, the tariff rate for items coming into the United States from the European Union will have a reciprocal tariff rate of 10%. This means that the formula will go as follows:
5.5% (old tariff rate) + 10% (new tariff rate) = 15.5%
While we have not passed on the previous tariff rates to our clients in the past, the new tariff rate is not possible to absorb into our current pricing. Unfortunately, beginning April 7, we are forced to implement a tariff rate of 10% to all products in our inventory. Since this is a situation that seems to be changing frequently, we are also working with a brokerage team who is diligently giving updates to the dynamic status of tariffs.
We understand that this change may raise some questions, and we want to assure you that we are committed to minimizing the impact on your business. Our team is happy to discuss the details of this new charge and work with you to ensure a smooth transition. We appreciate your business and look forward to continuing to serve you.