“If you don’t place an order and issue a PO within the next three minutes, quoted prices will likely increase by at least 25% due to expected tariffs.”
If you’ve heard this sales tactic from a supplier recently (OK, maybe this example is a *little* exaggerated…), you’re not alone. Of course, this might just be a case of a supplier rep making customers aware of possible price increases—but it could also be a rep trying to “tariff-y” you with the threat of price hikes, pressuring you into a purchase decision sooner than you may be ready for. “Playing the fear card” is a time-honored strategy for gaining leverage and closing deals.
And while feeling uneasy is an understandable reaction to market uncertainty, there are some strategies to help you manage risk and preserve your peace of mind. Here are a few proven ways to avoid feeling tariff-ied in the face of the unknown:
1. Prioritize At-Risk Products. Tariffs will only apply to certain products/materials originating in certain countries. Figuring which products (both equipment and supplies) are most at risk for price increases can help you prioritize purchases to lock in current pricing. If you have the flexibility to accelerate equipment deliveries or stock up on consumables before tariffs take effect, take advantage of it.
2. Buy Locally. Tariffs are intended to equalize trade between the U.S. and other countries, so the easiest way to avoid them is by purchasing domestic products. Granted, many products may not have domestic equivalents available (or at a similar costs), but there is a growing volume of solid American products that won’t be subjected to the same price risks as their foreign counterparts.
3. Take a Deep Breath. Remember: most of us have been here before. When the COVID pandemic hit, it completely upended hospital supply chains and drove some prices up by 100% or more. We got through it then, and we’ll get through it now. Don’t succumb to supplier pressure without first verifying their information and taking steps to lessen the pain.
The current market uncertainty surrounding tariffs may not be resolved for months, so planning ahead now will likely save you a lot headaches in the future. With just a few strategic choices, you can put yourself in more confident buying position—making it that much harder for you to be tariff-ied into making any decision that you’re not ready to make.