As fears of a potential recession grip consumers, spurred by the Trump administration’s announcement of tariffs on Chinese imports, IHS Markit is reporting a 0.9% overall decline in commodity prices in the Materials Price Index released on Aug. 21.
Trade war! What is it good for? Whether absolutely nothing or something else, construction will start to find out March 23 when a 25% tariff on imported steel and a 10% tariff on aluminum proposed on March 8 by President Donald Trump takes effect.
With tariffs of 25% on foreign steel imports and 10% on aluminum signed by President Donald Trump on March 8, U.S. construction estimators and buyers have a bit more clarity what to expect when buying materials for future projects.