On March 8, President Trump signed proclamations to impose a 25% tariff on steel imports and a 10% tariff on aluminum imports, with limited exceptions. AGC previously urged the President to abandon the tariffs because of their negative impacts on the construction industry. AGC members are still encouraged to contact the president and their congressional representatives to stop these tariffs. In addition, AGC has provided two memos for construction contractors – one for direct federal and federally assisted construction contracts and another for private construction contracts – as they grapple with anticipated steel and aluminum price increases.
These tariffs will have an almost immediate impact on the cost of aluminum and steel purchased for construction projects, as the construction industry consumes 43% of American steel according to the American Iron and Steel Institute. The proposed tariffs on steel and aluminum will also have a direct and negative impact on construction employment, putting more than 28,000 construction jobs at risk according to a recent, nonpartisan study. Alarmingly, this figure does not even account for jobs that could be impacted by affected nations’ retaliatory trade measures. AGC will continue to press the White House and Congress to stop these tariffs.