In April, the Equipment Dealers Association and the Association of Equipment Manufacturers surveyed their members about the impact of the Tax Cuts and Jobs Act and steel and aluminum tariffs on their businesses.
Dealers and manufacturers were in consensus that the two most beneficial provisions of the tax legislation were the lower corporate tax rate and the favorable expensing provisions for new and used equipment. While dealers and manufacturers are singing the “same tune” concerning tax cuts, there were substantial differences in their opinions related to the recent trade tariffs imposed by the Trump Administration on steel and aluminum.
One surprising discrepancy, according to survey organizers, was the opinion on how the tariffs would impact the U.S. economy. Although many say they believe the tariffs will negatively impact the U.S. economy, only 45 percent of dealers said the tariffs would negatively impact the economy as compared to 62 percent of manufacturers who said the same.
From the National Association of Farm Broadcasting News Service.