What are tariffs?
Tariffs are a fee placed on imports to increase their price. All countries use tariffs to one extent or another. There are two basic types of tariffs. One type increases as the cost of the goods increases—this is an ad valorem tariff and is usually set as a percentage of the cost of the goods (say, 3.7% of the total cost). The other type places a fixed amount on the goods regardless of their price (say, $1000 per item)—this is a specific tariff.
Who pays?
Tariffs are always paid by the importer, not the exporter. That is, the US importer pays the tariff on a specialty gas, not the foreign supplier. The cost of the tariff might or might not be passed on to the consumer.
Who imports specialty gases & who exports?
Importers and exporters of specialty gases are constantly shifting as new production facilities, new tariffs, and new demands emerge globally. For example, market analysts expect that “Asia-Pacific will become the fastest growing specialty gas market globally in the next five years, and China will dominate in both demand and production.” The hope is that new sources for specialty gases will constantly arise to fill the gap when old sources aren’t available.
The role of EFC Gases & Advanced Materials
EFC Gases & Advanced Materials has global partnerships and multiple suppliers that make us the go-to source for specialty gases at the highest purity levels possible. As an expert in the sourcing, import, purification, custom packaging and export of specialty gases and chemicals, we take a wholistic approach to balancing geo-political risk in how we manage our robust supply chain. We’re dedicated to supplying fluorocarbons, rare gases, high purity hydrcarbons and specialty gases to meet all of your customer’s needs at the fairest possible prices.
