Since taking office, President Trump has implemented various tariffs affecting global trade and the U.S. economy. The effective tariff rate is projected to peak at 12% in Q2-2025, with significant tariffs on imports from China, Mexico, and Canada. The construction industry faces rising material costs, particularly for steel and aluminum, which could delay or cancel projects. While some sectors may benefit, overall inflation and uncertainty are expected to impact growth. Despite risks, a 10% growth in construction starts is forecasted for 2025, driven by strong demand in certain sectors.
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