Political Wire
“When President Trump said he would enact sweeping tariffs and crack down on immigration, dire warnings rang out in the construction industry,” the New York Times reports.
“The policies threatened to push up building costs and deprive the industry of a crucial pool of labor when high interest rates were already depressing building activity.”
“Those forces are converging on builders, weighing them down in a potential drag on the economy. Higher import taxes on steel, copper, lumber and other materials are lifting construction prices and interrupting some jobs. Immigration enforcement is worsening worker shortages and delaying projects.”