China's "Piano Play": New 25 Percent Tariff Imposed on Luxury Steinway Piano Sales
"Classical" Economic Warfare in action. Effective June 1, a China directive (see official government directive below) imposes a 25 Percent price Tariff on Piano parts, upright pianos, used grands, and other unspecified luxury pianos, which includes sales of the iconic instrument maker, Steinway and Sons. American Luxury retail businesses and China's Cultural Elite are directly impacted, with a drastically higher cost-basis on sales and purchases.
