News Press Now (MO): 'Boom tax' could impact fireworks prices



The American Fireworks News cites higher wage costs and stricter regulations in the United States as well as a lack of time to grow manufacturing for next year as reasons firework production in the United States will not be able to compete with Chinese imports.
Schneitter Fireworks sells to private customers but mainly acts as a nationwide wholesale company. Blake said since 25 percent is a steep increase, Schneitter Fireworks would be forced to translate the rising buying cost into its sales prices. This would impact not only private buyers but also wholesale buyers and fireworks displays.

“We as an industry are calling it the ‘boom tax,’” Blake said. “We wouldn’t be able to just eat that 25 percent.”

The APA has filed a request to testify during the U.S. Trade Representative’s public hearing on June 17 in order to achieve a tariff exemptions for firework imports, according to the American Fireworks News, while The National Fireworks Association has started a petition to show support for an exemption.

To read the full article, click here.

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