Air Conditioning System Tariffs Affect Equipment Cost
If you’re on the fence about buying a new air-conditioning system, some international economic news may help you decide to make your purchase now.
Manufacturers have begun raising their prices as a result of the tariffs President Trump instated on foreign steel – 25 percent – and aluminum – 10 percent. The new tariffs raise manufacturers’ costs for materials needed to build heating, cooling, and refrigeration equipment.
“As a result, manufacturers started raising prices on their equipment in April -– anywhere from 2 to 12 percent — and this will ultimately hurt consumers,” writes Joanna Turpin, a senior editor at achrnews.com, a popular source of industry developments.
In addition, President Trump has threatened to add 25 percent tariffs on other products from China, which manufactures compressors, controllers and other components in heating, ventilation, air-conditioning and refrigeration systems.
He has said the tariffs will help preserve American jobs, but the Air-Conditioning, Heating, and Refrigeration Institute said tariffs will hurt manufacturers and consumers.
Got a question about air-conditioning? Contact us at standardhvac.com and we will do our best to give you the information you need.