On February 1, 2025, the President of the United States signed Executive Orders which impose new tariffs under the authority of the International Emergency Economic Powers ACT (IEEPA) on goods originating from Mexico (25%), Canada (25%), and China/HK (10%), effective February 4, 2025. However, tariffs on goods from Mexico and Canada were temporarily paused for 30 days and are now scheduled to take effect on March 4, 2025. On March 3, 2025, a separate Executive Order was issued, increasing IEEPA tariffs on China/HK to 20% effective March 4, 2025. These tariffs are in addition to existing Section 301 tariffs already in effect.

At ICC, we remain committed to transparency and accuracy in managing these changes. We are closely tracking the impact of these tariffs on affected parts and their country of origin (COO).

On March 10, 2025, ICC will begin quoting and billing the additional IEEPA 232 tariffs on all affected products originating from China and HK. This is in addition to any existing Section 301 tariffs. In keeping with our commitment to fairness and transparency, ICC will pass along up to 85% of the tariff costs we incur from our suppliers. For example, if we are charged 20%, then we will pass on 17%.

As additional tariffs are imposed, we will continue to provide updates and apply charges in a similar manner.

We understand that these changes present challenges and are here to support you. Please reach out to your sales representative for specific data on tariff impacts or to discuss cost-mitigation strategies. We appreciate your continued partnership and trust in ICC.