He also adds that those who do not respect this pledge will be at risk of financial sanctions. That is likely to allude to the fact that these are probably the bigger manufacturers but the question then comes down to how the prices will trickle down to consumers at the end of the day.

It is often the case that when prices for end product to the consumer go up, they almost never go back down again. At least I've never seen it in this part of the world (Asia) in my lifetime.