Since the beginning of the year, steel and aluminum prices have surged significantly, and upcoming tariffs on materials from Canada and Mexico, including steel and lumber, are raising concerns in the construction sector. Contractors expect that the threat of these tariffs could lead to increased material costs and impact project budgets. Although it’s too early to determine the long-term effects, historical patterns suggest that even if tariffs are lifted, prices may not revert to previous levels. Strategic planning and thorough analysis of project materials will be crucial for managing these financial risks.

Source: https://www.supplychaindive.com/news/construction-materials-tariffs-skanska-steel/743565/