The Construction Counselor

A recent ruling by the U.S. Court of International Trade has invalidated several tariffs imposed by the Trump administration earlier this year, including the “Liberation Day” tariffs and those targeting imports from Mexico, Canada and China. The court determined that these tariffs, enacted under the International Emergency Economic Powers Act of 1977, exceeded the authority granted to the executive branch. While the administration plans to appeal the decision and seek a suspension of its effects, the outcome remains uncertain.

For Iowa’s construction and real estate sectors, this development could have significant implications. Tariffs on imported materials like steel and aluminum have previously led to increased costs for construction projects. Should the court’s decision stand, it may alleviate some financial pressures on builders and landlords by reducing material costs. However, the ongoing legal proceedings introduce a level of uncertainty that stakeholders must navigate carefully. Staying informed on these developments is crucial for effective planning and budgeting in upcoming projects.

Learn more about this update here in the latest by attorneys Michael Meagher, Robert Oberlies and Jackson Guo.