The UK's homebuilding sector is increasingly anxious as President Trump's new 10% tariffs on imports threaten to raise construction costs and delay key projects. Although only a small percentage of UK steel and aluminum exports go to the US, industry experts warn that these tariffs disrupt the supply chain and inflate material prices. British Steel, one of the significant players, has already closed furnaces citing tariffs. The situation puts the UK government's goal of building 1.5 million homes at risk, prompting calls for government action to alleviate the burden on homebuilders and renovators.
UK homebuilders face escalating costs and delays due to President Trump's tariffs on imports, threatening the government's housing goals and the wider construction industry.
The introduction of tariffs has far-reaching consequences for the UK's construction sector, despite the relatively low percentage of exports affected. Industry leaders are alarmed.
UK Steel's Gareth Stace emphasized the tariffs as a 'devastating blow' to the construction sector, highlighting the urgent need for government interventions to mitigate impacts.
The rising cost of critical materials like steel and aluminum not only affects housing projects but also jeopardizes the broader goals of increasing home production in the UK.
Collection
[
|
...
]