The Trump administration officially enacted a 25% tariff on imports from Mexico and Canada Tuesday, along with an additional 10% tariff on Chinese goods. The tariffs on Mexico and Canada were initially set to take effect in February but were ultimately postponed for a month. The construction industry has been bracing for the impact for months. That’s why much of the tariff-driven price movement has likely played out by now, even ahead of the effective date, said Michael Guckes, chief economist at ConstructConnect. Construction input prices jumped 1.4% to kick off the year in January as contractors rushed to buy materials before tariffs went into effect, according to an analysis by Associated Builders and Contractors. That marked the largest monthly increase in two years. In other words, just the anticipation of tariffs had already been driving up prices on key materials, even before Tuesday’s deadline.
https://www.constructiondive.com/news/trump-tariffs-add-pressure-construction-pipeline/741431/