How Tariffs Are Impacting the Roofing Industry
When world leaders pass tariffs on imports, the far-reaching effects can be felt by roofing businesses across the country. In this brief article, a roofing lawyer in Texas will be discussing the impact that tariffs are having on the roofing industry. Tariffs are only one of the many challenges that a roofer can face. If you are ever in the need of legal aid, consult with a roofing attorney in Texas as soon as you can.
What Is a Tariff?
A tariff is a tax that is imposed on imported goods or services from another country. This tax is used to encourage the production and purchase of domestic products while discouraging the purchase of foreign products.
How Are Roofing Companies Affected by Tariffs?
The goal of recently imposed tariffs is to encourage economic growth; however, it does this at the potential expense of roofing businesses. Roofers are still faced with the same choice they’ve always had: where can I buy affordable materials? Even with tariffs in place, it will take U.S. manufacturers time to expand domestic production to meet the demand for roofing materials and keep prices low. Roofing components expected to be impacted by tariffs include the following:
- Structural beams
- Termination bars
- Metal plates
- Flashing and exterior cladding
- Window frames
With U.S. products remaining costly and with foreign products becoming costly, there may be no place to buy competitively priced shingles, steel, and aluminum. We’ve yet to see the full impact that these tariffs will have on the roofing industry. You may wish to ask your suppliers about possible material shortages and rising prices that may result from tariffs.
Construction firms using fixed-price contracts may incur out-of-pocket expenses to make up for the additional costs of materials. Mistakes when drafting a contract could lead to costly legal disputes later on. Whenever you are drafting or reviewing contracts, you should have a roofing lawyer in Texas by your side to ensure that all of your needs are met.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.