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Tariffs

How Will Trump Tariffs Impact Demand & Margins? Here’s What Distributors Told Us

We analyze the results of our early January survey that polled 350 distributors and manufacturers about their expectations of how tariffs could impact both margins and demand. Along with data, it produced plenty of commentary.

January 24, 2025

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The impact of the Trump administration on demand and margins was the catalyst for a question in the 4Q24 Baird-MDM Distribution Survey, which polled nearly 300 respondents — U.S. and Canadian distributors being the vast majority — during early January 2025. The broader theme of the results boiled down to "More demand, lower margins."

Research: Distributors’ Top Concerns to Start 2025

Distributors are paying close attention to these tariff policies and how they will impact their revenue and margins in 2025, though the news cycle for it can lead to whiplash. The survey also collected write-in…

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