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.”

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 responses from about 150 respondents. The results showed that some distributors are concerned that tariffs could complicate supply chain planning, although others remain hopeful for a boost in demand.

See the full results over at MDM's blog.