News Summary
The construction industry in Horry County is experiencing uncertainty due to President Trump’s newly implemented tariffs on imported steel and aluminum. The 25% tariffs have raised concerns among local contractors about cost increases and potential impacts on the supply chain, particularly as international players respond with retaliation. Despite these challenges, local builders report strong housing demand. Companies engaged in custom builds may be hit harder by rising material costs, and other local businesses in the food and beverage sector are also adjusting to the economic pressures. Overall, Horry County’s economic landscape is being tested as it navigates potential changes ahead.
Horry County Construction Industry Faces Uncertainty Amid Trump’s Tariffs
The construction industry in Horry County is bracing for potential changes as new tariffs on imported metal take effect. Recently announced by President Donald Trump, these tariffs impose a hefty 25% charge on all imported steel and aluminum, sparking a wave of concern and varied opinions among local contractors.
Retaliation from International Players
In response to the tariffs, both the European Union and Canada have unveiled their own retaliatory measures, which could further complicate the global supply chain. The impacts of these international responses are anticipated to be felt in local markets, as prices for construction materials may rise due to the added costs being passed on from suppliers.
Local Builders Share Perspectives
Contractors across the Grand Strand area are assessing how the changes will influence their operations. Some, like those from Carolina Palmetto Construction, are not overly concerned about immediate effects but express uncertainty about the long-term implications of the tariffs. Many contractors predict that it might take months to gauge the real impact on their projects and profitability.
Housing Demand Remains Strong
Despite potential challenges, the demand for housing in Horry County remains robust. Local builders assert that the continuous influx of residents into the Myrtle Beach area will help insulate the housing market from significant fluctuations caused by tariff-induced costs. The construction cost landscape typically experiences annual fluctuations, with prices rising between 5% to 10% each year due to inflation alone.
Custom Builds Hit Harder
For companies engaged in custom builds, such as barndominiums, the material costs are expected to feel the brunt of the tariffs more keenly. Builders in this niche have had to adapt, finding ways to source materials domestically during the pandemic. Some companies are already implementing contingency plans to address potential supply issues that may arise as a direct consequence of the tariffs.
Market Expansion Initiatives
In positive news, the growth in Horry County continues unabated. A new showroom opening in Conway by a custom construction company illustrates the ongoing demand. This company is not only expanding but also reinforcing its commitment to meeting the needs of local homeowners. Recognized as the fastest-growing residential area in South Carolina, Horry County is experiencing an unprecedented surge in housing needs.
Brewing Concerns
Challenges for Food and Beverage Suppliers
As the tariffs unfold, suppliers providing paper goods and kitchen equipment are also adjusting their pricing in response to increased costs. Local eateries plan to absorb some of these costs where possible, but they acknowledge that altering prices for consumers may soon be unavoidable.
Future Uncertainty Amid Promises of Change
Despite a recent threat by President Trump to escalate tariffs to as high as 50%, this statement was quickly retracted, leaving community businesses uncertain about the future. Many local operators are balancing their strategies to mitigate tariff impacts while striving to keep customers satisfied and maintain profitability.
The Horry County construction and business industries currently find themselves at a crossroads, navigating through turbulent times with resilience. The adherence to strong market demands juxtaposed with evolving economic pressures will test the strength and adaptability of the local economy in the weeks and months to come.
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Additional Resources
- WPDE News
- Wikipedia: Tariff
- WMBF News
- Google Search: Trump administration tariffs
- WBTW News
- Google Scholar: tariff impacts
- WBTW Media
- Encyclopedia Britannica: impact of tariffs
- WRDW News
- Google News: tariffs news
Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
