"Tariffs Threaten Construction With Delays, Increase Costs"
Law360
June 11, 2018
Excerpt from the article:
That includes Ian H. Frank, chair of Frantz Ward's construction practice group, who said his firm works closely with the steel industry. On the front lines are steel suppliers and fabricators, some of which have shortened the time period in which their price proposals can be accepted, an effort to combat price hikes he said can be between 20 and 40 percent, depending on a company’s place in the steel supply chain.
The shortened time, in turn, creates a situation in which owners and others involved with projects have to act quickly or risk losing out on a certain price, Frank said.
“We’re only a couple months into the implementation of the tariffs, but I still think we’re in sort of a volatility section of the cycle,” Frank said. “We’re seeing that price increases are pretty clear and they’re substantial.”