The impact of tariffs on what we buy and what we will pay has been on the mind of any of us these days, especially here at The Tea Smith, as we have worked for 20 years to obtain quality teas from all over the world, most of which cannot simply be produced in any other areas due to heritage, history, climate, and elevation. Tariffs are impacting the tea industry in a big way.
We received numerous comments on the news story KETV did with us on this topic. My wife chided me for not mentioning in the interview that 250 years ago the colonists rallied around the cry, “No tax on Tea!”
First and foremost, we at The Tea Smith truly appreciate the support and loyalty you have shown us over our 20 years, and especially during stressful times like Covid and now. Tea continues to be an important part of our daily routine of self-care and enjoyment. We are working closely with our producer and vendor partners to minimize the amount of price instability and increase in the supply chains, not just for tea, but for accessories as well. We are doing our best NOT to increase prices, and when we must, we look at how much we can absorb for you. To date, we have not passed along the additional 10% tariff we have been paying. We are all in this together.
At this time, the tariff on tea and goods from China of about 145% has temporarily been reduced to 30%. Most other tea-producing countries have a current tariff of 10%, and about 35% more than was announced recently, and temporarily put on hold.
We were fortunate to buy stock ahead of many of our teas, especially from China. As a result, we only incurred the original 10% additional tariff for those. I have been in contact with many of our suppliers of goods from China, and, at this time, most Chinese suppliers have put a hold on sending any more product to the US, or they are dramatically reducing supplies, until the situation becomes clearer. Other countries are still sending tea and passing along the 10% tariff to us.
We promise to work on your behalf to keep you supplied with the finest tea and accessories, as you have come to rely on us for those. We will keep you informed of any changes or developments in the market.
Together, we will weather these uncertain times and still have our favorite beverage in our cup.
