Camacol warns of consequences after imposition of tariffs on iron and steel
The government imposed tariffs of 25% to 35% on imports of steel and ceramics. Regarding this matter, the Colombian Chamber of Construction (Camacol) stated that the measures will have effects on housing prices that will be felt in access to them.
TL;DR
- Government imposes 25%-35% tariffs on steel and ceramic imports.
- Steel and iron constitute 16.3% of construction costs.
- Tariffs could increase final housing prices by 2.2%.
- Construction sector has faced 33 months of decline in housing starts.
- Sector has experienced 136,000 job losses.
- Camacol calls for a government review of tariffs and is considering legal action.