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2. Updated report on tariff impacts

Off-Highway Research has published a new edition of its study discussing the impact of US import tariffs on the country’s construction equipment market and manufacturing industry. The report has been updated in light of the new tariffs added in August on steel-derived products, which affect construction equipment, parts and attachments.

The report analyses some of the price impacts and provides an update on the outlook for construction equipment sales this year in light of the tariff announcements.

Off-Highway Research managing director, Chris Sleight said, “The industry was already reeling form April’s tariffs, which added cost for importers and US-based construction equipment manufacturers alike. The new Section 232 tariffs have now added a new layer of cost for the industry.

“One of the consequences, is that as there is now a blanket 50 per cent tariff on steel content, the origin of those products is now almost irrelevant as far as the construction equipment industry is concerned. The very high steel content of these products means the new import tax effectively overrides any previously negotiated national position.

He concluded, “This will mean huge cost increases for the industry, and the options to mitigate the impact are much more limited than before.”

Clients should log into the Off-Highway Research portal with their usual username and password to access the report.

Non-clients who can also read the report by providing their details on this webpage.