For the time being, Espinosa Cigars has announced it will delay any price increase on its products due to the recent tariffs. Today Espinosa announced it will not raise wholesale prices during the 90-day grace period established by President Donald Trump’s administration.
“Espinosa Premium Cigars has decided that despite the recent imposition of a 10 percent import tariff on Nicaraguan, Dominican, and Honduran cigar imports, we will not raise our wholesale prices during the 90-day grace period established by the administration.
“With consumers already under economic pressure, we believe it’s our responsibility to hold the line on pricing. We’re hopeful that, over the next three months, a fiscally responsible solution can be reached, one that supports both American retailers and consumers, ” said the company in a press release.
During the 90 days, Espinosa says it will absorb the added costs for the duration of the 90-day grace period. At the end of the period, if the tariffs stay in place or revert to the originally proposed 18% threshold, it will evaluate and implement any necessary adjustments. The company says these adjustments will be done in a “measured, transparent fashion.”
