Construction costs accelerated again in June, with steep price increases for a range of building and road construction materials as tariffs against foreign goods come into effect, according to a report from the Associated General Contractors of America.
In response to President Donald Trump’s announcement last month that the United States would be imposing tariffs on metal imports from Canada, the European Union, and Mexico, the Canadian government introduced dollar-for-dollar retaliation duties. Beginning July 1, a number of U.S. steel products faced fees of 25 percent, while an array of aluminum products cost Canadian importers 10 percent more.
Aluminum accounts for the greatest share of the U.S. commercial market for windows, doors, and skylights. Its manufacturing versatility, structural longevity, performance dependability, and near-infinite recyclability contribute to its popularity.
Downtown Chicago’s Wolf Point West Tower employs aluminum and glass railing systems, which provide occupants with both security and scenic views. The 48-story building, which is the first residential tower built at the confluence of the North, South, and Main branches of the Chicago River, has achieved Leadership in Energy and Environmental Design (LEED) Silver certification under the U.S. Green Building Council (USGBC).
The construction industry experienced a surge in costs last month, which was largely driven by price increases for a wide range of building materials, according to data from the Associated General Contractors of America’s (AGC’s) labor department. Association officials caution that the Trump administration’s newly-imposed tariffs on metal imports, such as steel and aluminum, will continue to affect project budgets.