One of our government’s primary responsibility is to ensure the economic growth of our country. The government has many different ways of analyzing and managing our nation’s finances. Currency values and trade play a crucial role in our nationals financial economic. Establishing tariffs is one way the government can help influence domestic investments. By adding tariffs to foreign goods, it influences the consumers to buy more domestic goods.
What is a Tariff
A tariff is an increase taxed placed on imported and exported goods to manipulate the buying market towards more domestic purchases. This means that international flooring prices in the United States will be increased to help keep money inside our nation. These tariffs are set to restrict consumers from wanting to buy foreign products and make domestic purchases more appealing. Many foreign flooring products have had a competitive advantage on low pricing because of the cheap labor outside the states; however, now with the new tariff on international floors, a forced tax puts these floorings at a significant pricing disadvantage.
This artificial inflation promotes consumers to purchase domestic flooring. There are many great, reputable domestic flooring companies like Armstrong and Shaw Flooring. Buying from these domestic companies helps support our nation’s economic growth. Domestic flooring companies will benefit primarily from the reduction of competitive foreign flooring industries because of artificial inflation.
How This Affects You
A lot of flooring is imported into the United States, so unfortunately many prices have increased in hard surface flooring category as well as carpeting. Choosing the floor you want is always an option; however, domestic flooring will be at a much more competitive price range. These tariffs will significantly impact foreign goods. There is a 10% increase effective immediately as well as a 25% increase at the start of the new year. We want to inform our customers of the change as well as offer a better understanding as to why our prices will increase on foreign goods.
Ultimately, the choice of flooring you want in your home is up to you. Understanding the new tariff and how it affects you though is vital to help you in your purchasing process. Whether you choose to invest in domestic or foreign flooring, we look to make your buying process as uncomplicated as possible. We offer financing through Synchrony Financial to help you get your dream floors. We also offer many different options of flooring for your home to assure you find the perfect flooring for your home today. If you have any further questions or need assistance, we would be happy to help! Call or visit us for more information.