Trade Tensions Raise Construction Costs in the Multifamily Sector

Construction subcontractors are raising prices in advance, even if the tariffs have not yet made an impact on materials prices.

The tariff wars are causing the price of construction materials to rise, construction contractors are saying.

“Approximately 60 percent of the cost increases we’ve seen recently are directly related to tariffs,” says Aaron Trascritti, director of client relations for Summit Contracting Group, a multifamily general contractor.

The U.S. government continues to confront its main trading partners on what it calls unfair trade practices, placing heavy tariffs on goods from these countries. These include tariffs on goods from China and on Canadian lumber, to name just two. Subcontractors have often responded quickly, raising their prices on the news of higher tariffs, even if the price they pay for materials remains relatively low.

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