The tariffs imposed by the US will add?to the cost of rebuilding houses for the victims of the California wildfire.
The tariffs will raise the price of key imported construction materials, such as lumber, drywall and nails. According to a building association official,?and the increase could be by as much as 20,000 US dollars
The additional cost could make victims with inadequate insurance give up on rebuilding or consider building a smaller property, reported Fox Business.
Over the past two years, thousands of houses in California have been destroyed by natural disasters, with the number standing at 1,200 for 2018 alone. Last year, Hurricane Harvey also flooded 300,000 buildings in Texas.
The tariffs could add between 8,000 and 10,000 US dollars to the cost of lumber, and increase the price of other house building materials such as nails, wire mesh, appliances, drywall and solar panels.
The tariffs imposed by the US government are hitting the US itself and harming the very citizens who Trump claims to have helped, CCTV commented.
Insurance policies?
Insurance policies are another potential obstacle for rebuilding these communities as many homeowners’ insurance policies only cover the outdated mortgage?estimates rather than the current costs.
Two-thirds of Californians who lost houses in fires last year did not have enough insurance to cover the full cost of reconstruction; most were short by at least 100,000 US dollars, according to a survey conducted by United Policyholders.
