US tariffs will ‘cost construction jobs’

By Andy Brown08 March 2018

President Trump’s plan to impose a 25% tariff on imported steel and a 10% tariff on imported aluminum would lead to a loss of over 28,000 jobs in the construction industry, according to a study released by US-based Trade Partnership, an economic consulting group.

Trump

Trump has announced plans to introduce a steel tariff

Trump’s intent is to boost U.S. production of steel and aluminum and the President’s advisors have argued that the tariffs will have no significant negative impact on consumers who purchase U.S. or imported steel, something which has been questioned.

According to data from the American Iron and Steel Institute, construction accounted for 43% of all steel shipments in the US last year.

The tariffs, and expected increase in the price of raw materials, comes with the US facing an affordable housing shortage and political leaders currently debating a national infrastructure plan.

The American Institute of Architects said in a statement that, “any move that increases building costs will jeopardise domestic design and the construction industry, which is responsible for billions in U.S. Gross Domestic Product, economic growth, and job creation.”

Read the report here.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
COMMENT: Are we at the beginning of a golden decade in German construction?
Peter Gerstmann, chairman of the board of management of the Zeppelin Group discusses growing opportunities for the German construction sector
Can hydrogen engines turn construction green?
Hydrogen combustion engines move to centre stage as construction aims for zero emissions
How electrification is heating up race to meet emissions targets
The move to electric-driven access equipment seems inevitable but the journey is not necessarily straightforward.
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA