The post-COVID resurgence of in-person events has had a spillover effect on the branded promotional merchandise industry. Companies need giveaways to spread the brand, leading to increasing orders for branded promotional items ranging from apparel and office supplies to drinkware, electronics, and scores of other tools.
Unfortunately, the recent implementation of tariffs on goods imported from Canada, Mexico and China—the primary suppliers of many promotional products—are expected to have a profound impact on the promotional merchandise industry. There have been hints that higher tariffs may be coming for select goods from Europe as well. Although there is a certain amount of gamesmanship and negotiating going on, causing delays in the implementation, it’s a virtual certainty that changes are afoot.