IMPACT ON SAVIK SUPER-CHROME INC. TARIFFS AND SURTAXES ON STEEL PRODUCTS ENTERING CANADA FROM THE UNITED STATES
Dear valued customer,
Effective July 1st 2018, the government of Canada should impose a 25% tariffs on steel products entering Canada from the United States.
Such tariffs will have a significant impact on Savik’s raw material supply chain and as a consequence on our cost structure.
Despite all the uncertainty, Savik Super-Chrome will make NO pricing adjustment related to tariffs the government of Canada should make effective July 1st.
We will monitor the situation over the next few weeks and we will keep you posted.
Our goal is to minimize the impact of tariffs on our cost structure and on our customer. This is why we are allowing ourselves some time to evaluate the real impact of such political decisions on our company.
It is not excluded that price increase announcement from cold finish mills are being made and that such price increases are not related to tariffs, but strictly by market conditions. Should this happen, we will address seperately.
We would like to take this opportunity to thank you for your continuous support and your understanding.
SAVIK SUPER-CHROME INC
VP & general Manager