Trade war causing local companies to adapt how they do business
Just like during COVID, several Minnesota companies and industries are adapting the way they do things. This time, because of tariffs. And one Twin Cities CEO says his company is pivoting as it relies on equipment from overseas.
"I have customers calling saying 'I can't believe how expensive things have gotten' and I'm like 'me either!'" said Charles Eide, the founder and CEO of EideCom. He says this exact scenario isn't necessarily stopping his customers, who come to him for audio/visual event production.
"Events are not slowing down, the cost of doing the events is on the rise," said Eide.
Which the CEO attributes to the following.
"When I saw this tariff thing, I thought 'I wonder how this is going to impact our part of the business because of how dependent we are on the technology part?" Eide added.
EidCom has much equipment from China, but during WCCO's visit to their warehouse, we found one piece of equipment designed in Denmark and made in Hungary.
EideCom started off 2025 with a multi-million dollar plan to expand, nearly doubling in size. Purchasing more lights, more audio equipment and more. but then heard rumblings of tariffs.
"We immediately got on the phone with manufacturers and said 'what does this mean?'" said Eide. "I would say most of them are working with us on either splitting the cost of them or absorbing some portion of the cost."
Which caused him to make a multi-six figure pivot.
"We've had to shave back what we're buying a little bit, in order to accomplish the goals we've set forth," he added.
Eide, not taking a political side, but remaining optimistic in his strategy.
"We're gonna charge forward because we know the future's bright in the events industry" Eide told WCCO.
More information on EideCom can be found here.
