In this article, experts in the insurance industry share their insights on how newly established Trump tariffs may exacerbate the costs of fire recovery in Los Angeles. Recently, the Pacific Palisades and Altadena areas of California experienced some of the worst wildfires in the state’s history. Insurance companies have already paid out over $4.2 billion in fire coverage, and tariffs on imports such as Canadian lumber will only drive recovery costs higher. Dr. Robert Hartwig, a professor at the University of South Carolina, comments, “The tariff-generated supply shock will hit the lumber market exactly as the demand shock hits the market, materially exacerbating the situation.” Hartwig also notes that the auto insurance industry will likely be affected by rising costs of replacing foreign supplies. To hear more from Hartwig and other experts, click here.