Member DashboardOur thanks to the NAFEM members who replied to the recent survey on business challenges and tariffs. We’ll have full results to report soon. In the meantime, here are some high-level findings.
- Tariffs, including Section 232 steel and aluminum tariffs, Section 301, and IEEPA tariffs are the top business challenges respondents face, followed by shipping costs, and delays and regulations.
- Compliance costs, increasing volume, and overall feasibility are the top regulatory challenges.
- 31% of those replying to the survey said regulatory and tariff compliance is impacting their companies’ ability to control costs. Nearly 20% said regulatory and tariff compliance is making it more difficult to compete, and more than 17% said it is impacting growth.
- 90% of respondents reported tariffs have negatively impacted their businesses and approximately 50% have already passed on tariff-related costs to customers and/or anticipate doing so in the near future.
- Those responding also reported tariff issues are driving them to investigate new or local suppliers (39%), as well as reshoring to the United States and some offshoring to new countries (23%).
We’ll share the complete survey details soon.