Those tariffs could impact businesses in many different industries including construction.
I talked to a local, veteran-owned company in Nashville to see how they're bracing for the change.
"I got out of the military in 2023, I served 17 and a half years in the service," said Vagif Alex Seidov, founder of HBG Companies, including HBG Supply.
In addition to work as a developer and builder, HBG supplies PVC electrical pipe for building projects, the company imports nearly 4 million feet of pipe every month.
"Electricians will then come and buy these goods and install it in homes that are built here in Tennesseee," Seidov said.
Approximately 50 percent of the pipe they sell comes from China.
According to Seidov, it's a bit of a waiting game to see how it all shakes out.
"I think waiting, maybe a little bit. That's what we're doing as a company, just kind of waiting to see what happens," Seidov said.
One way his company is looking to mitigate the impact of the tariffs is to purchase products from countries that won't be impacted by them, around half their pipe comes from Saudi Arabia.
However, diversifying where items are purchased can only do so much.
According to Seidov, for businesses like his to operate, the cost of the tariff eventually has to be passed on to the consumer and with housing budgets already stretched thin, that could have a major impact on his business.
"If the market reacts adversely to the increases in price and stops our sales, we're talking potentially a year, maybe 16 months and we'd have to stop operations and regroup," Seidov said.
Seidov has confidence in the president though.
"The Trump administration, I think they've got a lot of smart folks, and I think they want to make a deal happen," said Seidov. "I believe that they don't want collateral damage. I know that he cares about small business and business in America, I think it will all shake out."
Do you have more information about this story? You can email me at robb.coles@newschannel5.com.
Music lessons for just 50 cents! A Nashville music school has been providing that to area students for over 40 years including for the city's current mayor. As a child, I always wanted to take piano lessons. I was able to for about 6 months but had to stop due to family finances. I would have loved to have had access to a program like this at the W. O. Smith Music School.
- Lelan Statom
