INDIANAPOLIS— If your air conditioner is on the fritz, you might want to replace it soon.
Steel and aluminum tariffs are expected to force HVAC manufacturers to increase their prices by 4-6 percent on July 1.
Brian Schutt, co-owner of Homesense Heating and Cooling, said their suppliers have already informed them of the hike.
Tariffs will force heating and cooling companies to increase prices to the tune of hundreds of dollars, Schutt said.
“Because we’re in a very competitive industry, profit margins are not very big,” Schutt said. “So, when we see an increase in pricing on our most expensive equipment that we’re putting in, that does get passed along to the customer.”
Schutt said if you’re thinking about replacing your unit, you might want to act fast.
“There are a lot of homeowners on the fence about should we do something about our air conditioner that may not be working,” Schutt said. “We’ve just been encouraging people to consider doing a replacement before this price increase comes into effect.”
Schutt said he expects the entire HVAC industry will be impacted by the tariffs.