February 12, 2025 - 19:12
As the White House prepares to implement new tariffs, contractors are bracing for potential price increases on certain construction materials. This looming change could lead to a significant financial burden for those in the construction industry. One of the leaders from Duane Morris LLP's construction division has indicated that contractors may begin to formulate a tax argument to mitigate the impact of these tariffs.
The anticipated tariffs are expected to affect a range of materials crucial to construction projects, prompting concerns about escalating project costs. Contractors may argue that the additional expenses imposed by tariffs should not be solely their responsibility, potentially framing it as a tax that could hinder their ability to complete projects within budget.
This situation has created a sense of urgency among industry professionals as they strategize on how to address the financial implications of these tariffs. The outcome of this debate could have lasting effects on the construction landscape and overall project viability.
