STAVANGER, Norway (BRAIN) — Tracking device company BikeFinder said Tuesday it is pausing all new imports of its trackers into the U.S. because of the increased tariffs announced last week, "a decision made not out of necessity but strategy."
BikeFinder's trackers — which mount inside the handlebar and use GPS, GSM, and Bluetooth technology — are manufactured in China and subjected to new U.S. import tariffs on electronics and tech. The trackers are developed and designed in Norway, including all software and app development.
According to BikeFinder, it has three tariffs that apply to importing its devices into the U.S.: the 10% base import tariff; the China-specific 34% tariff announced April 2; and the 25% Section 301 tariff on electronics. A BikeFinder spokesperson said the average tariff impact is about 79%, depending on the item's base price.
The company said existing U.S. customers will be fully supported with subscription and app updates continuing, but limited inventory is available. It added that BikeFinder trackers are available on Amazon as of Tuesday.
"We're not dependent on U.S. exports," said Katrine Pauwels, marketing & communications director at BikeFinder.
BikeFinder began in 2015 and is the supplier of tracking devices for Team Visma Lease a Bike.
