The Associated General Contractors of America (AGC) has prepared a open letter to US President Joe Biden warning of the effects of recent material price increases.
According to the AGC, the costs of materials such as lumber and steel have reached “record highs”, in part because of tariff levels.
A Press release The trade body added that contractors faced long delivery times for materials, exacerbating disruption caused by the disease and restrictions at the Covid-19 site.
The price of non-residential materials and services rose 2.5% between December and January, and 10.7% since April last year.
Stephen Sandherr, General Manager of AGC, noted: “Left unchecked, this rise in material prices threatens to undermine economic recovery by inflating the cost of infrastructure and economic development projects.
“Widespread harm is being done by maintaining tariffs on products so many Americans need to improve their homes, modernize their infrastructure and revitalize their economy.”
Ken Simonson, AGC Chief Economist, said: “While contractors have kept offers almost unchanged so far, project owners and budget makers should anticipate the prospect that contractors will have to pass on their costs. higher on upcoming offers.
“The price of composite lumber compiled by Random Lengths hit an all-time high last week. domestic imports and construction inputs. “
Image: Construction in New York (Elisa No Kim / Dreamstime)