The Broader Impact of Trump Tariffs on Equipment Prices | Itefy

The Broader Impact of Trump Tariffs on Equipment Prices

Wondering how Trump’s tariffs are affecting equipment prices? Discover what you can do to minimize the rising costs from affecting your business. 

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The tariffs implemented by the Trump administration have sparked considerable uncertainty regarding their long-term effects on equipment prices. 

Industries relying on imported goods, especially from China, may continue to face fluctuating prices as the global trade environment evolves. The true extent to which these tariffs will affect equipment pricing in the future is still unclear.

In light of this uncertainty, platforms like Itefy could play an important role in helping businesses navigate these challenges. It could provide businesses with the flexibility they need to manage rising costs. 

Here’s what you should know about the Trump tariffs and how Itefy can help companies counteract them. 

What are Trump Tariffs Exactly?

Countries with the highest import/export from the USA

President Donald Trump has implemented significant tariff measures targeting Canada, Mexico, and China in 2025. The goal of these Trump tariffs is to encourage more manufacturing in the United States and to address concerns like illegal immigration and drug trafficking. 

On February 1, 2025, Trump signed orders to place a 25% tariff on goods from Canada and Mexico and a 10% tariff on imports from China. This means that products coming from these countries will cost more for U.S. businesses and consumers. 

Canada’s energy exports, such as oil and natural gas, are taxed at 10%. This move is intended to encourage companies to make more products in the U.S. instead of importing them. 

In response to these Trump tariffs, Canada and Mexico have agreed to delay them for a month while they work on improving security along the U.S. border. However, there are concerns that these tariffs could lead to higher prices for U.S. consumers and disrupt supply chains. 

Some economists, like Austan Goolsbee, worry that the tariffs could worsen inflation, similar to the inflation seen during the COVID-19 pandemic.

How Will Trump Tariffs Impact the Prices of Industrial Equipment?

The Trump tariffs are expected to affect the prices of industrial equipment in several ways, including:

1. Increased Production Costs

Many industrial equipment manufacturers rely on imported raw materials like steel and aluminum. The imposed tariffs on Canadian, Mexican, and Chinese imports will probably raise the cost of these materials and lead to higher production expenses. 

Additionally, industrial equipment often includes components sourced from these countries, and tariffs on these parts can increase overall manufacturing costs. 

2. Supply Chain Disruptions

With tariffs in place, many U.S. manufacturers are facing delays due to increased border checks and changes in supplier networks. These supply chain disruptions could extend lead times for orders of industrial equipment. 

For instance, a company may have to wait longer to receive the machinery it needs for production, causing potential delays in business operations. 

3. Higher Consumer Prices

As manufacturers face higher production costs, many will pass these costs on to consumers. This means they’ll increase the product prices while trying to maintain their profit margins. 

Moreover, businesses that rely heavily on purchasing industrial equipment may find it hard to keep costs down which would eventually hurt their profit. The increased cost of industrial goods could also lead to inflationary pressures in the economy. 

4. Potential Retaliatory Measures

Other countries affected by the tariffs, particularly China, may impose retaliatory tariffs on U.S. exports. China, for example, has already imposed 10% tariffs on U.S. agricultural products and technology and 15% on coal and liquefied natural gas. 

This could disrupt further sectors of the economy and indirectly increase costs in industries relying on international markets.

Worried About the Impact of Trump Tariffs on Equipment? Let Itefy Help

With the rising complexity and cost of industrial equipment due to tariffs, managing equipment efficiently is more crucial than ever. Itefy can come in quite handy during these times for the already available equipment.

Here’s how Itefy can make your life easier and extend your equipment’s life after Trump tariff implementation so you don’t need to spend more on buying new ones soon. Make sure to sign up on Itefy beforehand and enjoy our 14-day free trial at no hidden costs. 

Itefy sign-up page

1. Book and Schedule Equipment Usage

Itefy allows businesses to schedule and track equipment usage in real time, optimizing productivity and resource allocation. Here’s how this feature comes in handy:

Extensive Reservations

Itefy enables businesses to plan and schedule equipment usage with ease. Users can book multiple pieces of equipment in one reservation, including recurring bookings for maintenance or other periodic events. This asset reservation system avoids unnecessary delays and ensures that all equipment is being used efficiently.

Itefy’s dashboard

Consistent Reminders

Itefy ensures that no important tasks are missed by sending reminders about upcoming reservations, maintenance schedules, and low inventory levels. Under this consistent monitoring, businesses can maintain operational efficiency and avoid unnecessary costs caused by neglected equipment or missed bookings.

2. Equipment Checkouts

Another reason to use Itefy is to streamline the checkout process and ensure that every piece of equipment in your inventory is tracked and used only when needed. The benefits of this feature include:

Utilize Your Equipment Efficiently

Itefy helps ensure that equipment is used optimally by tracking when it's checked out and for how long, minimizing waste, and preventing over-purchasing.

Efficient usage means businesses aren’t buying more equipment than they need, and they can keep the most valuable assets working at peak efficiency. This physical asset management avoids unnecessary investments in tools or machines when the existing equipment is sitting idle.

Easy Check-Outs and Check-Ins by Users

Itefy’s dashboard

The checkout and check-in process is made simple with Itefy. Employees or team members can easily log in, check out equipment for a specified time, and check it back in when they're done. All you need to do is go to Itefy’s dashboard, click on the “New Checkout” button, add details, and you’re done. 

As everything is tracked digitally in the system, this reduces the chances of lost or unreturned items. And the best part? It has a simple user interface that doesn’t require much training, whether you’re a beginner or an expert. 

QR-Powered Checkouts

Itefy introduces a QR code system to make the checkout process even easier. Each piece of equipment is assigned a unique QR code, which can be scanned by users through the Itefy mobile app. 

QR codes allow users to instantly check out and return equipment with just a few taps on their smartphones. Moreover, QR-powered checkouts enable businesses to track equipment in real time. 

3. Detailed Maintenance Logs

With Itefy’s equipment maintenance log features, businesses can keep track of all maintenance activities and stay ahead of potential issues that could lead to costly repairs.

Keep Track of All Maintenance

Itefy makes it easy to log all repairs, services, and maintenance activities. For this, you simply need to go to Itefy’s dashboard and click on the “New Event” button. Here you can look at already scheduled maintenance and even make new ones. 

Itefy’s dashboard

This helps businesses monitor which pieces of equipment are receiving the necessary attention and which ones may need additional care. These details are also important for making decisions about repairs or replacements. 

Track Maintenance Expenses

One of the benefits of Itefy’s maintenance logging system is that it allows businesses to track the expenses associated with each maintenance task. With it, companies can keep an eye on their maintenance budget and identify areas where they might be overspending.

If the costs of maintenance start to increase significantly for a particular item, it might be cost-effective to replace it rather than continue to repair it and throw away money. Itefy’s tracking tools give businesses the data they need to make informed decisions about the future of their equipment.

Scan and Log Events with a Smartphone

With the Itefy mobile app, businesses can easily scan QR codes to log maintenance events in real time. This feature allows maintenance personnel to instantly record their actions, from routine servicing to emergency repairs, without having to manually input details.

By using smartphones, maintenance staff can quickly capture the equipment’s condition, the parts used, and any other relevant details about the service event. This immediate logging ensures that the maintenance history is always up-to-date. 

Log Maintenance on Behalf of Others

Itefy’s dashboard new event

Itefy allows managers or supervisors to log maintenance tasks for other team members. This is especially useful in larger organizations where equipment is managed by multiple people. 

For example, if a maintenance manager notices a problem with equipment that needs attention, they can quickly log it on behalf of the technician or user responsible for the item.

4. Location Tracking

Itefy’s location-tracking feature gives businesses real-time visibility into the whereabouts of their equipment. Here’s more detail on how this feature can help your business:

Complete Location Tracking for All Equipment

Itefy allows businesses to track the location of every piece of equipment. This reduces the risk of misplacing valuable equipment and helps ensure that items are readily available when needed. 

When managers know where equipment is at any given time, they can make quicker decisions about which assets should be deployed. 

Easy to Bring Idle Equipment Back

Sometimes equipment sits idle and isn’t being used properly. However, with Itefy’s location tracking, businesses can easily identify equipment that is not in use and bring it back into operation. This helps avoid situations where unused equipment is left in storage while there’s a need elsewhere. 

Know the Combined Value of Equipment at Each Location

With location tracking, businesses can also monitor the combined value of all equipment at any given site. This feature helps companies assess the total value of their assets and prioritize which equipment should be maintained or replaced.

5. Effective Issue Management

Itefy makes it easy to track and resolve issues with your equipment, minimizing downtime and improving performance. By using this feature, businesses can:

Create Detailed Issue Tickets

When equipment issues arise, Itefy allows users to create detailed issue tickets. These tickets capture all relevant information, such as the nature of the problem, the severity, and the steps needed to resolve it.

Keep Track of Equipment Performance

Itefy tracks the performance of all equipment and allows businesses to identify patterns or recurring issues. By keeping track of performance data, businesses can prevent minor issues from becoming major problems. 

6. Detailed Inventory Tracking

As a business, you need to keep track of your equipment to prevent shortages and ensure that your business has the right resources when needed. With Itefy, you can simply add items to the dashboard and keep track of them in real time. A couple of benefits that it offers are:

Itefy’s dashboard

Notifications for Low Inventory Levels

Itefy automatically sends notifications when inventory levels are running low. It allows businesses to restock equipment before it runs out.

Avoid Inventory Shortages for Crunch Moments

With real-time inventory tracking, Itefy helps businesses avoid inventory shortages at crucial moments. For instance, if a project deadline is approaching, it can make a huge difference to know exactly where and how much equipment is available. 

Manage Inventory On the Go With Itefy's Mobile App 

Managing your equipment and inventory has never been easier with Itefy’s mobile app. It gives you access to all of its powerful features and makes it easy to track equipment, maintenance, check out tools, and much more—all from the palm of your hand. 

With the app, you can quickly check the status of your equipment, see who’s using it, and track its location in real time. Need to schedule maintenance? You can easily do that too, directly from the app. No matter where you are, you'll have the control and flexibility to manage your inventory on the go.

Excellent Customer Support

Itefy offers excellent customer support to help you make the most of its platform. The support team is always ready to assist with any questions or issues you might have. In addition to personalized support, Itefy offers a range of helpful resources, such as tutorials and FAQs, to help users get the most out of the platform.

Minimize the Impact of Trump Tariffs With Itefy 

The impact of Trump’s tariffs on industrial equipment and materials could be felt by businesses across the globe, especially with rising costs and supply chain disruptions. So it’s now more important for businesses to manage assets, especially the ones that rely on expensive equipment. 

And this is exactly where Itefy’s Equipment Management Software comes in handy. With it, you can make smarter decisions and directly counter the rising costs caused by tariffs. From real-time tracking to streamlined checkouts and proactive maintenance schedules, Itefy offers a solution for every business.

So, don’t let Trump tariff hikes affect your business—try Itefy for free now and take full control of your equipment management. 

 

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