Optimism persists among eye care providers despite looming tariffs

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A recent report conducted by The Vision Council has found that despite recent tariff rollouts and inflation, eye care providers are somewhat optimistic about the industry’s future.¹ The report, Provider inSights Q3-Q4 2024, highlights providers’ expectations and the perceived impact of economic factors including tariffs, inflation, staffing and hiring, and technological integration including telehealth and artificial intelligence, according to a news release.

Although 54% of respondents expect the US economy to either remain stable or improve in 2025, 70% reported that inflation had at least some influence on their practices during the second half of 2024. Half (50%) of eye care providers also anticipated that tariffs would increase costs for eye wear products, supplies, and materials.¹

“Our most recent survey shows that eyecare providers reported similar or slightly improved practice performance for the second half of 2024 compared to the previous 2 quarters, and are cautiously optimistic for 2025,” said Alysse Henkel, vice president of Research and inSights at The Vision Council, in the release. “Even with this optimism, providers are well aware of the uncertain economic outlook and its potential impact on their businesses—many are delaying major investments, feeling the strain of inflation, and facing persistent challenges in attracting and retaining skilled talent.”

Almost a quarter (21%) of eye care providers surveyed stated that they believe that tariffs would not have a negative impact on their business or that short-term negatives would be offset by long-term negatives. In terms of inflation concerns, 35% of surveyed providers expect inflation to have a severe or extreme impact on their practices in 2025.¹

Hiring and staffing challenges also remain and were listed as the biggest challenge in the second half of the year. Little is expected to improve on the staffing front in 2025. Additionally, 6 in 10 providers reported that there is at least a moderate shortage of qualified professionals, with 36% of providers stating that there is a severe or extreme shortage of opticians. Over a third (34%) of providers suggest that expanding training and educational opportunities could help address workforce gaps.¹

Tariffs

The Vision Council is also closely monitoring reciprocal tariffs that were announced in the beginning of April and subsequently placed on hold for 90 days on April 9.^2,3 If rolled out, the tariffs would increase import duties on goods from nearly all countries by at least 10%, which is anticipated to significantly affect companies that import eye wear and optical products, according to a news release. Products from China, in addition to countries with higher rates set, will be most affected.³

“As the optical industry navigates these uncertain economic times, The Vision Council remains committed to supporting our members and advocating for fair, balanced trade policies that result in affordable eye care products and services,” said Michael Vitale, vice president of Membership, Government Relations and Technical Standards at The Vision Council, in the release.³ “We are actively engaging with policymakers to voice the concerns of our industry, while equipping our members with the tools, information, and resources they need to adapt in a rapidly changing global market.”

Plastic eyeglass frames, OTC reading glasses, complete eyeglasses, safety glasses, and goggles imported from China are among the products that would be most affected, subject to a combined tariff rate of approximately 64%. Sunglasses imported from China will be taxed at 63.5%. Additionally, a variety of eyeglass cases, lens processing equipment, and other optical machinery originating from China could face combined duty rates between 80% and 90%.³

The Vision Council’s Government Relations team is also in discussions with congressional leaders and key committees that influence the United States Trade Representative to advocate for the creation of an exemption process that would allow US companies to petition for relief. “The Vision Council urges industry members to stay informed as trade dynamics evolve,” the release stated.³

References:

1. New research from The Vision Council reveals cautious optimism among eye care providers despite economic pressures. News release. The Vision Council. Apirl 8, 2025. Accessed April 10, 2025. https://thevisioncouncil.org/blog/new-research-vision-council-reveals-cautious-optimism-among-eyecare-providers-despite-economic

2. Liasson M. President Trump has announced a hold on most tariffs, but China faces tariffs of 125%. NPR. April 9, 2025. Accessed April 10, 2025. https://www.npr.org/2025/04/09/nx-s1-5357781/president-trump-has-announced-a-hold-on-most-tariffs-but-china-faces-tariffs-of-125

3. The Vision Council addresses new reciprocal tariffs and their impact on the optical industry. News release. The Vision Council. April 4, 2025. Accessed April 10, 2025. https://thevisioncouncil.org/blog/vision-council-addresses-new-reciprocal-tariffs-and-their-impact-optical-industry