WASHINGTON – May 14, 2019 – If the U.S.-China tariff war lasts, builders and contractors say that new tariffs on Chinese goods will add $2.5 billion in added costs to the home remodeling industry – and those extra costs will be passed on to customers.
Tariff costs on Chinese imports jumped from 10 percent to 25 percent on May 10, which builders say will increase the cost of about 450 goods used by the home building industry, such as countertops – like granite, marble and quartz – tile for bathrooms and backsplashes, light fixtures, cabinets, heating and cooling equipment, and flooring.
“I wish we would not just have to pass it along to customers, but at this point I don’t know how to engineer around that,” Bruce Case, CEO of Case Remodeling, told CNBC. “We can’t use different products that aren’t as effective.”
Source: © Copyright 2019 INFORMATION INC., Bethesda, MD 301-215-4688