Monarch Trophy Studio said it recently got an invoice with a 30% tariff added for freight cost.
SAN ANTONIO — It’s almost Fiesta time and a big part of the Fiesta tradition are the medals.
Tariffs are on the minds of many and they are already having a rippling affect on all kinds of imports, including fiesta medals.
Charlie Drago, the owner of Monarch Trophy Studio, says he is making sure tariffs on fiesta medals are not going to ruin this year’s party with a purpose but as for the future, it’s uncertain at this point.
“Our big fear is everything’s going to have a tariff on it,” said Drago.
You love them. You want them. You got to have them. But how much more are you willing to pay?
“I’ve already been notified by most of the manufacturers. That we’re going to get price increases,” said Drago.
Over at Monarch Trophy Studio, a big part of the business right now are fiesta medals and those medals are now coming with an extra cost.
“Customer comes in. Discusses their art. We draw it. We make the art so that they’re happy with it. Then, we send it overseas and then the metal comes about a month later,” said Drago.
Drago says 95% of product is coming from overseas.
Tuesday morning, he got an freight invoice with a 30% tariff added to shipping cost.
“I don’t know if we’re going to see the 100% tariff on bills next week, so it’s troublesome,” said Drago.
For nowm, Drago says his business is eating the additional cost.
“If we told you a month ago when you ordered a medal that was $3, I don’t feel it’s right to tell you, ‘Hey, the tariff came in. Now you’ve got to pay $3.50,'” said Drago.
Drago says manufactures are working to decide how much of an increase are going to be passed down to consumers.
“It’s a big worry because if we get all the pricing going up on everything then people are going to be more selective on what they buy. You don’t really need a Fiesta Medal but it sure is fun to have them,” said Drago.
Drago says those in the industry are just going to ride it out and see what happens but he believes the medal craze will continue to be a Fiesta tradition, at least he hopes it does.