Wyze Paid Over $255K in Tariffs for Single Shipment of Floodlights, May Raise Prices

Summary

Wyze Announces Heavy Tariff Costs on Recent Shipment

Security camera manufacturer Wyze has shared the significant impact of tariffs on a recent shipment from China. The company imported around 1,300 Wyze Cam Floodlights valued at $167,215 but ended up paying an additional $255,002 in duties, amounting to a staggering 145% tariff rate.

This substantial increase in import costs will likely force Wyze to raise its prices, which could affect their reputation for providing affordable security gear. The company has ruled out moving manufacturing to the US and instead suggested that production might shift to Vietnam.

The situation highlights the broader economic challenges faced by companies importing goods from China due to high tariffs, potentially leading to higher consumer costs in the long run.