Key Takeaways:
- A major West Coast developer accused Donald Trump of adding new costs through steel and aluminum tariffs.
- Nat Bosa, founder of Bosa Development, warns these tariffs could stall future projects.
- Industry leaders say tariffs hurt housing affordability and construction costs.
- This isn’t the first time Bosa has criticized Trump over tariffs, citing past financial losses.
Developer Blasts Trump Over Tariffs on Steel and Aluminum
A well-known developer on the West Coast, credited with reshaping San Diego’s skyline, is furious with Donald Trump. Nat Bosa, founder of Canada-based Bosa Development, says Trump’s plan to impose tariffs on imported steel and aluminum will add huge costs to his projects.
Bosa is currently building a massive condo and apartment complex in San Diego, a city struggling with a housing shortage. He says Trump’s claim that tariffs won’t increase costs is unrealistic.
“To think tariffs won’t cost us more money is just crazy,” Bosa said. He added that right now, no one knows how bad the impact will be.
A History of Conflict
This isn’t the first time Bosa has clashed with Trump over tariffs. In 2018, similar tariffs cost him “a few million extra dollars.” Now, he’s worried things could get even worse.
If the tariffs go into effect, Bosa predicts many developers will delay new projects. “If anyone was planning to start something new, they’ll probably wait until they know what Trump is thinking,” he said.
Industry Leaders Weigh In
Lori Holt Pfeiler, CEO of the San Diego County Building Industry Association, also criticized Trump’s tariffs. “Tariffs don’t help with housing costs,” she said.
Experts warn that higher construction costs could make housing even less affordable in cities like San Diego, where demand for homes is already high.
The Bigger Picture
Trump’s tariffs are part of a larger debate about trade policies and their impact on the economy. While supporters argue tariffs can protect American jobs, critics like Bosa say they often hurt businesses and consumers.
For now, developers like Bosa are left waiting to see how these tariffs will affect their projects. One thing is clear: the construction industry is bracing for potential disruptions.
This feud over tariffs highlights the challenges of balancing economic policies with the needs of industries like construction. As the situation unfolds, one thing is certain—developers, homeowners, and taxpayers will be watching closely.