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Tariffs

Distributors Forecast Shaky 1-10% COGS Increase with Tariffs Influence

Most distributors and manufacturers surveyed in the 1Q25 Baird-MDM Industrial Distribution Survey indicated a 1-10% increase in the cost of goods sold in 2025, though uncertainty colored commentary. Get our deep dive analysis here.

April 21, 2025

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An early April survey of distributor and manufacturers, conducted just ahead of President Trump’s sweeping tariffs policies, found that most expect the cost of goods sold (COGS) to increase between 1-10% in 2025 compared to 2024. Uncertainty keeps those expectations shaky and evolving. Both distributors and manufacturers held similar expectations in regard to rising COGS, according to the 1Q25 Baird-MDM Industrial Distribution Survey. Of the 291 combined respondents surveyed, 67% of respondents indicated they expected a 1-10% increase, followed by 22% who expect steeper increase of 11-20%.

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