Trade and Tariffs Remain a Big Concern
Contractors have expressed ongoing concerns about the potential effect of tariffs and trade wars on their access to materials. This quarter, already-high worries over trade and tariffs persisted.
Nearly half (47%) of contractors said steel and aluminum tariffs will have a high to a very high degree of impact on their business in the next three years. A similar percentage (49%) said the same about new construction material and equipment tariffs, up to five points from last quarter and up 23 points year-over-year.