After an escalation of a trade war earlier Tuesday, the White House called off the threat of 50% tariffs on steel and aluminum from Canada. But those metals from Canada and all other countries will be subject to a 25% tariff beginning Wednesday.
With the CHIPS Act requiring 60 votes for repeal, and development reaching mostly red districts, Trump's critique appears unlikely to translate into legislative action.
The Treasury Department announced that it will not enforce penalties or fines against U.S. companies that do not register under the Corporate Transparency Act (CTA).
The stop-and-start-again tariffs have started again. Today, the Trump Administration initiated tariffs on Mexico and Canada at 25%, and increased tariffs on China to 20%. For HVAC contractors attempting to protect their profit margins during the coming tariff regime, it’s important to know what percentage of parts and equipment are made in the U.S. versus being imported.
President Trump’s administration has made a lot of HVAC news in his first month on the job. Here is a look at what that means for HVAC contractors, distributors, and manufacturers.