Target Marketing Group isn’t just a promotional merchandise dealer — we do much more than that! From fulfillment and printing services to custom embroidery and strategic brand building, we provide everything you need to help your company grow. Founded in 1986, Target Marketing Group is one of the largest distributors and importers of promotional merchandise in the United States. We offer a wide variety of marketing support services, including fulfillment, creative design, and extensive decorating capabilities. We understand that to be successful, we must help our clients – large and small – be successful.
After weeks of progress and growing optimism around an end to the US-China trade dispute, there was a sudden reversal late last week. On several key issues, the US interpreted China’s position as retreating on prior agreements – initiating a response by President Trump to move forward with an increase to the current tariff rates and a potential expansion of tariffs to cover all Chinese imports. China’s leadership responded by levying additional tariffs on $60 billion of US exports to China. Unfortunately, as the situation appears today, both sides have staked out positions that make a near-term agreement unlikely. Worst case, we are facing a protracted trade war that could have significant implications for our industry and the global economy.
The situation has been unfolding very rapidly, but here is what we know today:
- Tariffs on the existing $200 billion of Chinese imports will increase from 10% to 25% effective June 1st (for shipments made prior to May 10th).
- The 25% tariff impacts the product categories originally included in the 10% tariff regulations that were enacted last September. The major categories relevant to our industry are: Bags and Stationery products, and portions of Drinkware, Technology and other Accessory categories.
- The US Trade Representative announced Monday that the US has begun the formal process to expand the 25% tariff to all other imports from China (i.e. those currently not subject to tariffs).
- This represents an additional $300+ billion of imports from China and would cover a large majority of product categories sold in our industry. The public hearing and comment period end June 24th – so the expanded range of tariff categories would not be imposed until after that date.
It is difficult to assess the potential implications to all of the products we sell. It is equally challenging to predict how this will play out over the coming weeks.
We will do our best to advise our clients on a case by case basis about the additional costs for each product as it is quoted and ordered. We understand and appreciate the challenge the tariffs and related price increases pose to your business. You have our commitment to work through this together – and to do so equitably and with as much transparency as possible. We will provide further updates over the coming weeks as additional news and information becomes available.
As always, thank you for your ongoing support of Target Marketing Group
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