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Another tariff announcement from Washington may force general contractors to revise their contract terms.
President Donald Trump announced plans to impose a 50% tariff on many Canadian imports beginning Aug. 19. The proposed duties will apply to all covered goods, regardless of whether they originate under the U.S.-Mexico-Canada agreement, according to a July 20 fact sheet from the White House.
The announcement adds yet another tariff calculation general contractors will need to be aware of, Trent Cotney, partner and construction team leader at law firm Adams & Reese, told Construction Dive.
“The greatest implication is additional cost and uncertainty,” Cotney said. “Contractors often price work months before purchasing materials. A 50% tariff can quickly make existing estimates obsolete and increase the risk of disputes over who bears the additional cost.”
