Planning to renovate your home? That may soon cost more due to tariffs
CNN
For the last few years, the home renovation space has been booming, but Washington’s ever-shifting tariff policies threaten to change that.
Costs have been creeping up for Chad Esslinger, who runs an interior design business outside of Chicago, ever since President Donald Trump first announced sweeping global tariffs in early April. One business Esslinger often relies on to provide light fixtures, rugs, furniture and all manner of wholesale home goods for clients implemented a “temporary tariff surcharge” of 14% on all goods from China and a 2% charge on items imported from any other country beginning on May 12. Another business that provides fabric, wallpaper and trim emailed Esslinger to say it would re-evaluate its pricing strategy on May 15. “I’ve seen it where sometimes they don’t even warn you. I’ve gone to a website to look at a product I might have sourced a month ago, and now suddenly it’s a certain percentage more,” Esslinger said. “Just like everything, you have to pass that cost along if you want to stay profitable,” he added. For the last few years, the home renovation space has been booming, but Washington’s ever-shifting tariff policies threaten to change that.
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