Recently imposed tariffs on steel (25%) and aluminum (10%) imports have rattled financial markets and sparked concerns about global trade. Significant price increases have affected the construction industry, which relies heavily on steel and aluminum products. Manufacturers of heavy equipment anticipate a dent in fiscal 2019 earnings by 6-9%. A recent study by The Trade Partnership estimates as at least 28,000 construction jobs could be lost, which would have a significant economic impact.
To read the full GlobeSt blog about what impact this might have on construction, and ways stakeholders may prepare, click here.