Sponsored by the Claims Avoidance and Resolution Committee of the Risk Management Council of the Construction Institute of ASCE

Understanding Modern Construction Economics and the Impact of Tariffs on Construction Projects examines how policy-driven trade tariffs have introduced discrete and measurable cost volatility into construction markets. This publication analyzes tariff actions between 2020 and 2025 and their effects on key construction inputs, including structural steel, reinforcing steel, electrical components, equipment, and specialty materials, with particular emphasis on how these impacts interact with bid-hold requirements, supplier quotation validity periods, and traditional public procurement models.

Topics include

• Construction procurement processes;
• Construction engineering supply chain;
• Transformation and disruptions in construction supply chain;
• Tariffs, inflation, and international trade economics;
• Tariffs and construction industry; and
• Implementation of adaptive supply chain strategies and best practices.

This book provides practical tools for mitigating tariff exposure and promotes informed allocation of tariff-related risk and dispute avoidance in an increasingly volatile construction economics environment for contractors, construction managers, owners, design professionals, and procurement officials seeking to improve risk clarify and reduce dispute potential.