Understanding Tarriffs & How They Impact Us:

Lately, tariffs have been a hot topic, especially as we hear about them daily on the news, TV, and social media. It's normal to feel uncertain or worried about what this might mean for our company and everything around us. In this article we will break down what a tariff is, how it impacts us, the steps we are taking to address the situation, and how we can work together to navigate this challenge as a team.

So, what is a tariff?

A tariff is a tax that a government imposes on goods imported from other countries. It makes foreign products more expensive, which can help protect local industries from outside competitions. While tariffs can support domestic businesses, they can also lead to higher consumer prices and sometimes create tension in international trade. Governments use tariffs to manage trade, but the effects can be mixed, and not everyone benefits equally.

How does this affect us?

Most suppliers, like us, rely on imported goods to provide products to our distributor partners. Tariffs, such as the one imposed on China, will likely drive prices up, not only for Terry Town but for the entire industry.

What are we doing about it?

As the news of these changes spreads quickly, we've been working closely with our current Chinese suppliers to understand the situation better. At the same time we're exploring alternative trading partners outside of China to continue importing our goods. Terry Town has always been a reliable company, overcoming challenges for many years. This is just another obstacle we'll tackle, and as a team, we are confident we'll succeed.

What can we all do to help?

The best thing we can do is to continue giving our best every day. By staying proactive, preventing errors, and exceeding expectations in everything we do, we can all contribute to navigating this changes smoothly. Together, we'll overcome this challenge and come out even stronger.