Armstrong Announces Chinese Tariff-Related Price Increase
Lancaster, PA, Spetember 20, 2018-Armstrong will increase prices to offset the imposed 10% tariff on affected products it imports from China-including LVT, rigid core flooring and engineered wood flooring-effective October 1.
“Although increased prices due to the tariff are unavoidable, we will look for opportunities to mitigate the impact where possible,” said Armstrong Flooring president and CEO Don Maier.
Armstrong Flooring is primarily a domestic manufacturer, with three-quarters of its sales in 2017 from products produced by the company. It has made substantial investments to expand its capacity to manufacture flooring products in the U.S., including developing LVT production lines at plants in Pennsylvania, Illinois and Oklahoma and increasing its engineered wood capabilities at plants in Kentucky and Pennsylvania.
Maier adds, “Sourcing products from other countries expands our access to new innovations and provides additional capacity that is not available in the U.S. today to meet rapidly-increasing market demand for specific products.”
Armstrong Flooring’s pricing action followed an announcement by the federal government that it would impose a tariff of 10% on certain flooring products imported to the U.S. from China, effective on September 24, 2018, with an increase to 25% effective January 1, 2019. Armstrong Flooring expects to implement an additional price increase effective January 1, 2019, to offset the increase in the tariff.
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