By Diana Olick | CNBC
Home renovation demand is soaring, and so are the costs to do it, thanks to a new round of tariffs on goods imported from China.
The latest round hits about $10 billion worth of Chinese products exclusive to homebuilding and remodeling, according to the National Association of Home Builders.
To start, it is a 10 percent tariff, but then could rise to 25 percent by the end of the year. That would be equivalent to a $2.5 billion tax increase on the industry.
Home renovation demand is soaring, and so are the costs to do it, thanks to a new round of tariffs on goods imported from China.
The latest round hits about $10 billion worth of Chinese products exclusive to homebuilding and remodeling, according to the National Association of Home Builders. The tariff starts at 10 percent, but could rise to 25 percent by the end of the year. That would be equivalent to a $2.5 billion tax increase on the industry.
