News

Concerns grow over tariffs' impact in Indiana

Tariffs imposed by President Donald Trump's administration may be increasing project costs for government agencies and homebuilders in Indiana.
Sunday, August 12th 2018, 3:26 pm EDT
Updated:
Sunday, August 12th 2018, 3:26 pm EDT
Image

WEST LAFAYETTE, Ind. (AP) -- Tariffs imposed by President Donald Trump's administration may be increasing project costs for government agencies and homebuilders in Indiana.

Lafayette Mayor Tony Roswarski tells The Journal & Courier that local developers believe their construction costs have risen by 10 to 15 percent because of the tariffs.

Federal officials aim to have a 25-percent tariff on imported steel and a 10-percent tariff on imported aluminum reduce the United States' trade deficits and improve the country's manufacturing industry. But some government agencies and homebuilders in Indiana say that's unintentionally driving up costs.

Kristy Wozniak is president of the Builders Association of Greater Lafayette. She says it's too early to tell the effect of the tariffs. Wozniak says material cost increases in the area may be driven by a strong residential construction sector.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

TRENDING STORIES