The United States has established new tariffs on steel and aluminum that will directly impact the cost of HVAC equipment and supplies.
Enacted on March 23, 2018, the new tariffs increase the tax on imported steel by 25% and imported aluminum by 10%. Steel and aluminum are raw materials used in the manufacturing of boilers, furnaces, air conditioners, compressors, water heaters, heat exchangers and control equipment. In addition, many replacement parts for heating and cooling systems are crafted from these resources.
As the effects of new tariffs become more widespread, the cost of HVAC equipment and supplies will increase for both contractors and consumers. In sum, if you have been considering upgrading any of your existing heating and cooling systems - the time is now. Purchasing HVAC equipment and supplies now can save you money later due to the inevitable price increases from new nationwide tariffs.
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