Insider Header
FocusOn Landscapers | FocusOn Equipment Rentals | FocusOn Mining, Aggregates & Construction | FocusOn Land Improvement Contractors

Trending Industry Stories

Video: Volvo's Cabinless Concept
Granite Construction in Legal Battle With Yakama Nation Over Proposed Mining Expansion
Metso celebrates its 150th anniversary
Rototilt® Compactors, Multi-Use Grapples, and Sorting Grapples for added Tiltrotator Versatility
Crash hazard prompts John Deere recall of Gator utility vehicles
Association of Equipment Manufacturers Unveils Workforce Recruitment Tool Kit
Montana Will Defend Law In Mining Dispute Near Yellowstone
Atlas Copco offeres Sneak Peak at Mobile Diesel Generator QAS5
Hitachi ZX350LC-6 Construction Excavator - Accelerate your efficiency.
Ocean Cleanup System Completed And Ready To Be Towed Out To Sea
Oregon Construction Worker Fired For Refusing To Attend Bible Study
United Rentals to Acquire BlueLine Rental for $2.1 billion
Genie "Ask Me Anything" Event to Address Certified Pre-owned Equipment
VOLVO CE Inaugurates New Headquarters



Name*


Email*


City*


State/Province*




Steel Tariffs Bad News! Letter from J Garrison CEO of Terex Corp
Original source: Terex Corp

Screen Shot 2018-03-07 at 12.59.51 PM.png Dear Valued Customer,

As you have undoubtedly heard, on March 1, 2018 the Trump administration announced its intention to impose tariffs on imported steel and aluminum. Steel prices have been rising steadily for several months, and this action drove prices even higher, reaching heights not seen in many years. The longer term impact of the trade action is uncertain, but the inflationary impact on steel prices and related components is already increasing our product cost.

Terex is committed to continuously improving efficiency, managing costs, and when possible protecting our customers from the adverse impacts of rising costs - to help maximize the value and return on investment derived from our products. Unfortunately, the impact of the rising cost of steel is too large and too sudden for us to absorb. Given the uncertain nature of these market dynamics, we are not increasing our base prices. Instead, we will be adding a steel cost surcharge on our equipment. The surcharge will cover a portion of our cost increases - and will remain separate and transparent from our base prices. As the price of steel normalizes, we will adjust or remove the surcharge. Our aim is to minimize the impact on your business. We are still finalizing the details of the surcharge - your Terex representative will communicate with you very soon.

We regret that we have been forced to take this action. As a global manufacturer, we value free and fair markets, and see the imposition of these tariffs as a significant source of friction in the global economy. It is particularly frustrating to have these added costs imposed now, creating unnecessary headwinds at a time when markets are trending favorably. We encourage you to join us in asking your government representatives to seek the elimination of these tariffs.

Thank you for your business; we look forward to continuing to serve you.

Yours sincerely,

John Garrison
President & CEO



The FocusOn Group
FocusOn Landscapers
FocusOn Equipment Rentals
FocusOn Mining, Aggregates & Construction
FocusOn Land Improvement Contractors
About
The FocusOn Industry Insider, bringing you breaking news and information relevant to your industry.
Contact
We hope you enjoy this no charge service for FocusOn subscribers. Suggestions for making the Insider better? editor@thefocusongroup.com.

Would you like to advertise with us?
Advertising Inquiry