News

Construction Costs Climb in March as Wide Range of Input Costs Jump; Tariff Threats May Delay Projects and Make Some Unaffordable

Construction costs climbed again in March, with increases for a wide range of building materials, including many that are subject to proposed tariffs that could drive prices still higher and cause scarcities, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials warned that tariffs on some items might lead to project delays and cancellations if supplies become unobtainable or too expensive for current budgets.

“Prices increased for many items in March, even before tariffs announced for steel, aluminum and many items imported from China have taken effect,” said the association’s chief economist, Ken Simonson. “Steel service centers and other suppliers are warning there is not enough capacity at U.S. mills or in the trucking industry to deliver orders on a timely basis. Thus, contractors are likely to experience still higher prices as well as delivery delays in coming months.”

Read full news release here

Industry Priorities