Builders in Colorado are bracing for tariffs on common construction materials like steel and aluminum to move down the chain. Some experts predict the end result will likely bring up home prices and lose business for local contractors that can’t absorb the cost increases, but others argue it could be good for business in the long run.
In March, President Donald Trump reinstated 25% tariffs on steel and aluminum imports. The move was pitched as a way to strengthen domestic production of both materials, though some Colorado economists argue it could raise the cost of construction in a state where high home prices are already a barrier to housing.
“We’re concerned with any policy that disrupts predictability in the market or increases the cost of doing business, whether that comes from the state or federal government,” Colorado Chamber of Commerce President and CEO Loren Furman said in a statement. “Specifically for Colorado, which is already one of the most expensive states to live and do business, tariffs could seriously interfere with our work to improve competitiveness and the broader economy.”
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