Rebuilding after Florence will cost about 30% more thanks to Trump tariffs

[southernhybrid]

https://www.nytimes.com/2018/09/21/business/economy/tariffs-rebuilding-hurricane-florence.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business&region=rank&module=package&version=highlights&contentPlacement=2&pgtype=sectionfront

When the floodwaters from Hurricane Florence recede and rebuilding kicks into high gear, homeowners and businesses will face an additional burden as tariffs imposed by the Trump administration drive up the cost of construction materials.

Homebuilders and contractors say the administration’s trade policy will add to the price increases that usually follow natural disasters. In addition to materials like lumber, steel and aluminum, the United States will impose tariffs on $200 billion in Chinese imports next week, including countertops, furniture and gypsum, a key ingredient in drywall. All told, some builders estimate that construction costs could be 20 to 30 percent higher than they would have been without these tariffs.

“We’re all going to pay the price for it in terms of higher construction costs,” said Alan Banks, president of the North Carolina Home Builders Association.

Perhaps the biggest impact will come from wood prices, which are up 40 percent from a year ago. The Trump administration imposed a 20 percent tariff on Canadian softwood lumber late last year, and supply shortages have also driven up prices.

You're doing a hell of a job, there Trump! I do wonder if this will help some of the rural dwelling folks in NC come to their senses regarding Trump. I sure hope so.

 

[Worldtraveller]

Hard to find a downside to supporting trump!