By Robert W. Barone, R.A., LEED AP, Director of Construction Services at Partner Engineering and Science, Inc. | Published May 12th, 2025, on irei.com.
Partner is building a picture of how much impact the tariffs will have on overall project budgets and how contractors and developers are preparing for the increases. Partner solicited input on the impact of tariffs from its clients throughout the United States. The polling was conducted via monthly project monitoring as well as informal polling of their clients.
According to Bob Barone, Partner’s director of institutional construction services, “There are so many variables — type of project, location, design, material specifications — that affect project budgets. When you hear about, say, a 25 percent tariff on steel and aluminum, it’s easy to imagine construction budgets jumping significantly. But depending on the project, materials account for roughly 40 to 60 percent of total construction cost, and in most cases a relatively small percentage of that cost comes from imported materials.”
May 28, 2025
When future economists look back on 2025, perhaps they’ll refer to this period as, “The Great Hesitation.” Consumer and business confidence is down and the whole world seems to be waiting for the proverbial other shoe to drop. In all instances the underlying demand is there; the common denominator is fear that the market will change.
May 20, 2025
From tariffs to low bids, you'll learn what’s shaping Construction Risk today in the latest Construction Risk Management newsletter. Also, a must-read, check out the latest 2025 Construction Risk Management Journal, highlighted in this edition.
April 28, 2025
Three reasons not to panic about the impact of tariffs on your construction deal. Robert W. Barone, R.A., LEED AP, Director of Construction Services of Partner ESI, offers hope in the face of tariffs and how they may affect your construction deals.
