'Absolute insanity': Fellow high-rise developer blasts Trump over steel tariffs
A major West Coast high-rise developer widely credited with changing the bayfront skyline in San Diego harshly criticized Donald Trump for saddling new expenses on him with a plan to attach tariffs to steel and aluminum coming into the U.S.
According to the founder of Canada-based Bosa Development, the president's proposal to levy a 25 percent charge on imported metals used in his type of construction will be devastating.
In an interview with the San Diego Union-Tribune, Nat Bosa, whose company is currently constructing a 389-unit condo tower with a 211-unit apartment building in the housing-starved Southern California city, is beyond the pale.
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More to the point, he noted Trump's claim tariffs won't increase costs is not grounded in reality.
“To have the illusion (tariffs) would not cost us more money is absolute insanity,” he complained before lamenting, “Right now, we have no idea to what extent.”
According to the UT's Phillip Molnar, this is not the first time Bosa has criticized the president for costing him money, having stated in 2018 that similar tariffs dinged him for “a few million bucks more.”
Lori Holt Pfeiler, CEO of the San Diego County Building Industry Association, also had harsh words for Trump adding on more costs to the construction industry.
“Tariffs do not help with housing costs,” she pointed out.
According to Bosa, should the tariffs be implemented, that may stall future projects.
“If any developer was getting ready to start something new they will probably wait until they know what is going through (Trump’s) mind," he predicted.
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