Acuity Brand has announced that it will raise prices on some lighting related products by an additional 15 percent, effective Wednesday, May 15, 2019, as a result of the trump administration's tariff policy.
The notice reads as follows:
"" in November 2018, Acuity Brands informed customers that prices for their Acuity Brands will increase by 15% from January 2, 2019 due to increased input costs for products, including the direct and indirect effects of higher tariffs.On the sidelines of the G20 summit on December 1, 2018, the trump administration announced the suspension of any additional tariffs for 90 days, while continuing sino-us trade talks.As a result, Acuity Brands postponed price increases on January 2 until March 4, 2019.In February, the trump administration announced its intention to delay raising tariffs, and in response, Acuity Brands continued to suspend growth on March 4. All other previously announced and implemented price increases from 2018 remain in effect.
Over the past few weeks, the U.S. trade representative's office and Chinese officials have met repeatedly to discuss a potential trade deal.This week, Chinese representatives again traveled to the United States to continue trade talks, but no agreement has been reached.At a press conference on May 6, 2019, ustr said the new tariffs would take effect on Friday, May 10, when the us is expected to raise tariffs on $200bn of Chinese imports from 10 per cent to 25 per cent.
Therefore, the additional 15% price increase for some of our previously announced products will come into effect on Wednesday, May 15, 2019.Tuesday, May 14, 2019 will be the last day for affected products to be entered and shipped at current prices.