OKC Fireworks Warehouse talks tariff's effects on fireworks
OKLAHOMA CITY (KFOR) - We are only about a week and a half away from the 4th of July holiday and everyone will soon be out and buying their fireworks if they haven't already.
A local fireworks warehouse spoke to KFOR about what you can expect when you hit the stores and how tariff's caused some concerns recently over supply.
Aisles and aisles of fireworks were ready for customers to buy at the Fireworks Warehouse off NE 50th and I-35. But for some time, retailers worries the shelves wouldn't look like that due to on and off tariff's in recent months.
"They said we were not going to pay, you know, twice as much, three times as much for that as as we did last year," Marketing Director for Fireworks Warehouse Jimmy Black said. "That kind of shorted some of the areas with fireworks."
Black said 99 percent of the products you see in their stores come from China. Importing them meant an additional tariff cost of 145 percent at one point this spring.
"when they were at their highest, there were containers, not necessarily for fireworks warehouse, but for many different retailers that just sat there," he said.
However, timing is everything. The tariff's dropped from 145 percent to 55 percent while the U.S. and China entered tariff negotiations. Despite higher costs, dealers like Fireworks Warehouse stocked up. Black said the company absorbed some of the tariff price and since they buy in such large bulk that they were able to offset things a bit on the retail side. However, he said customers, might expect reduced selection and higher price tags depending on where they go.
"They may not be able to get what they want," Black said.
As we get closer to the holiday, some shops might sell out of certain items. Black said it's best to get out and shop early, especially if you're looking for certain things.