On July 6th, US Trade Representative Section 301 imposed an additional 25% duties on certain imported items from China. This is in addition to the tariff increase on imported steel and aluminum announced in March. While we are working with our suppliers to minimize the impact, we are being forced to incur substantial cost increases across our product lines.
Because of these cost pressures, we will be releasing updated price lists for Gilbarco and Gasboy which will become effective for all orders received after November 9, 2018. The updated price books will include an increase of 5% on all products except for software, Passport Service Offering (PSO), and extended warranties. The updated price books will be available October 19, 2018.
We recognize this increase follows our July price adjustment of 3.8%. While we are doing everything we can to minimize the impact for our partners and customers, we appreciate your continued support as we work through this challenging situation.