Tag: Tariff
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Tariff fallout hits contractor confidence
Dive Brief: Backlog improved but contractor confidence still dropped in March as tariff-related impacts dampened some bullishness, according to an Associated Builders and Contractors survey conducted from March 20 to April 6. Around 80% of contractors said suppliers notified them of tariff-related materials price increases, while 20% had projects paused or interrupted because of tariffs…
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Construction materials costs rise for third month on tariff pressures
Dive Brief: Construction input prices increased 0.5% in March, while nonresidential input prices climbed 0.6%, both unusually steep jumps, according to an analysis by Associated Builders and Contractors of U.S. Bureau of Labor Statistics data. Both overall and nonresidential input prices are now 0.8% higher than a year ago and sit more than 40% higher…
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Amid tariff turmoil, Novartis commits to spending $23B on US manufacturing
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Novartis will substantially expand its U.S. footprint, announcing Thursday plans to spend $23 billion over five years to build six new factories, expand three existing ones and add a new research and development hub. The…
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Tariff tensions threaten Canada’s construction market
Listen to the article 6 min This audio is auto-generated. Please let us know if you have feedback. In recent months, large Canadian construction companies have performed more strongly in the stock market than their American counterparts, but contractors in both countries face uncertainty and fallout from President Donald Trump’s trade policies. Among the levies…
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China readies 34% tariff on US imports starting April 10
China will levy a 34% tariff on imported goods originating from the U.S. on April 10, matching the duty the Trump administration will place on the country, China’s Ministry of Finance announced Friday. Products shipped before April 10 and imported into China by May 13 will not be affected by the action, per the Finance…
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Tutor Perini unfazed by Trump’s tariff, funding actions
Listen to the article 6 min This audio is auto-generated. Please let us know if you have feedback. Tutor Perini sees bluer skies ahead, with hopes for a return to profitability in 2025 after reporting another loss for the year. Despite recent market concerns about the Trump administration’s new tariffs and scrutiny of federal spending,…
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Tariff worries force firms to rethink contracts
Listen to the article 11 min This audio is auto-generated. Please let us know if you have feedback. This feature is a part of “The Dotted Line” series, which takes an in-depth look at the complex legal landscape of the construction industry. To view the entire series, click here. Contractors are bracing for a fresh wave…
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What the Steel and Aluminum Tariff Could Mean for Construction
In an effort to protect America’s steel and aluminum industries, on February 11, President Trump signed proclamations to close loopholes, restoring a “true” 25 percent tariff on steel, raising the tariff from 10 to 25 percent on aluminum. As quickly as President Trump addressed these tariffs on what are vitally imported construction materials, it didn’t…
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Contractors brace for steel, aluminum tariff impacts
Listen to the article 6 min This audio is auto-generated. Please let us know if you have feedback. Tariffs on steel and aluminum could do more than curb imports — they could put the brakes on construction activity, too. President Donald Trump signed executive orders on Feb. 10 implementing 25% tariffs on all steel and…
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Tariff fears tied to biggest construction cost jump in 2 years
Dive Brief: Construction input prices jumped 1.4% in January, marking the largest monthly increase in two years, according to an analysis by Associated Builders and Contractors. Energy costs drove much of that increase, with crude petroleum, natural gas and unprocessed energy all rising. However, the price jump also stems from a rush to purchase materials…