Introduction to Tariffs and Home Improvements
Tariffs on goods and materials are going to have an impact on your budget. Starting in May, safeguarding your home from severe weather could start costing you more. NBC6 Responds spoke with the owners of Synergy Windows and More, an impact window company bracing for increases. Owner Jason Cignoni said starting May 1, they will start paying 25% for each impact window and door – a cost that will then be passed on to the consumer.
The Impact of Tariffs on Materials
The materials at the center of the price hike are steel and aluminum. “From screws to hardware to extrusions, like what makes the actual frames of the windows and the doors, all that stuff is going to get affected,” Cignoni said. “Even though we do use products that are manufactured in the U.S., raw materials still get sourced from everywhere.” The Trump Administration imposed a 25% tariff on imports of steel and aluminum in March. It’s a similar tariff to what the first Trump Administration put in place back in 2018.
Comparison to Previous Tariffs
But unlike in 2018, American companies cannot apply for exemptions to the tariffs for products not readily available in the United States. Marisol Arboleda-Diaz with the Builders Association of South Florida fears tariffs will increase already elevated home building costs. “I can tell you from back 2018, we haven’t really seen much decreases,” Arboleda-Diaz said. “I’m always afraid that once you have an increase, it’s hard to go back down… we’re constantly staying up on the higher end in terms of cost, of which is unfair to the consumer because when it does come down, it doesn’t trickle down, unfortunately.”
Effects on Businesses and Consumers
For companies like Synergy Windows and More, they are hoping the tariffs are short-lived. “Hopefully, it’s six months, eight months, but we don’t know. It could be longer. It could be shorter. So, at the end of the day, you know, you just have to continue doing right by the client but keeping the lights on,” Cignoni said. Unlike some tariffs, the 25% tariff on steel and aluminum is in place for all imports of metals regardless of what country they come from.
Conclusion
In conclusion, the tariffs imposed on steel and aluminum will have a significant impact on the cost of home improvements. The 25% tariff will increase the cost of materials, which will then be passed on to consumers. This could lead to higher costs for homeowners who are looking to safeguard their homes from severe weather. It is essential for consumers to be aware of these changes and to plan accordingly.
FAQs
Q: What is the tariff rate on steel and aluminum?
A: The tariff rate on steel and aluminum is 25%.
Q: When did the tariffs go into effect?
A: The tariffs went into effect on May 1.
Q: Will the tariffs increase the cost of home improvements?
A: Yes, the tariffs will increase the cost of materials, which will then be passed on to consumers.
Q: Can American companies apply for exemptions to the tariffs?
A: No, American companies cannot apply for exemptions to the tariffs for products not readily available in the United States.
Q: How long will the tariffs be in place?
A: The duration of the tariffs is uncertain, but companies are hoping they will be short-lived.
