Beck Speaks about Tariffs and Rise in Construction Costs
- Jul 24, 2018
The Beck Group recently spoke with Mitch Carr from KRLD 1080 News Radio about the rise in construction costs after the U.S. imposed tariffs on Canadian, Mexican and European Union steel and aluminum.
In the interview, Scot Bennett – regional director of Beck’s Fort Worth office, currently managing construction at Dickies Arena – explained to Carr that the tariffs, when combined with the large volume of projects in hot markets, continued demand for materials and labor shortages all play a role in rising costs and why the industry is reacting as it is.
“We’ve seen potential upticks of 20 percent and even approaching 40 percent in pricing,” Bennett said, “A lot of the response we’ve seen is driven by fear and uncertainty. It’s affecting consumer confidence, which has a direct impact on our industry.”
Beck advises its clients to plan ahead by working with preconstruction teams to lock in pricing early. Doing this helps mitigate the risks of building in markets experiencing labor shortages and increased material costs caused by the tariffs.
Play now to hear the full interview with KRLD – July 23, 2018