The Trump administration tariffs on steel and aluminum imports from a variety of countries, including Canada and Mexico, take effect today, June 1. The actions followed public comments and an initial proclamation by President Trump in March, through which he characterized this trade imbalance as a matter of national security. The final decision was announced May 31.
Following the president’s initial remarks on this issue, ARTBA issued a statement March 9 describing the potential impacts of the tariffs on transportation construction project costs. Steel is an important input for transportation construction, with one analysis noting that, on average, 10 cents of every dollar spent on highway and bridge construction goes toward steel-related materials.
ARTBA would appreciate feedback from members who see changes, volatility or instability in steel and aluminum prices or availability. This includes any developments in the application of price adjustment clauses, or any other impacts to the contracting process. Please contact ARTBA’s Rich Juliano or Nick Goldstein at any time.