"We're still increasing pricing based on the most up-to-date tariff announcements from India and the U.S., because it's not going back down to zero. It's still elevated. The cost of our goods has also shot up, because gold has almost doubled since last year."
"Within hours of the ruling, Trump announced across-the-board tariffs of 10%, under Section 122 of the Trade Act of 1974. The next day, he said he would work to increase these to 15%. The new tariffs expire after 150 days, unless extended by Congress."
"Kothari's situation reflects the broader challenge facing thousands of small and midsize online merchants that sell on marketplaces like Amazon, social shopping platforms such as TikTok Shop and their own Shopify-powered websites. Many sellers who raised prices last year to offset tariff costs must now decide whether - or when - to roll them back."
Haus of Excellence raised prices 15-60% due to Trump's tariffs on Indian imports, which peaked at 50% before a recent trade deal reduced them to 18%. A Supreme Court ruling declared these tariffs unconstitutional, but Trump immediately imposed new 10% across-the-board tariffs under different authority, with plans to increase them to 15%. CEO Monil Kothari maintains elevated prices despite tariff reductions, citing persistent elevated tariff levels and surging gold prices that have nearly doubled. The company adopts a wait-and-watch approach given rapid policy changes. This situation reflects broader challenges for thousands of small and midsize online merchants across marketplaces and platforms who raised prices to offset tariff costs and now face uncertainty about price rollbacks.
Read at Modern Retail
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