Construction Cost Data Shows Effect of Trade Disputes as Aluminum and Steel Costs Increase
New labor department figures demonstrate how new tariffs have increased the costs of key construction materials, with metal materials experiencing double-digit percent increases.
According to an analysis by the Associated General Contractors of America of new Labor Department data, construction costs accelerated again in June, with steep increases for a wide range of building and road construction materials as tariffs against foreign goods come into effect. Association officials say that contractors will have to assume much of the costs as tariffs increase the costs of many key construction materials.