The cost of critical materials for the construction industry are on the rise due to trade wars and geopolitical tensions. Procurement in North America and Europe has been impacted by the new tariffs on steel, aluminum, timber and copper with costs for steel and aluminum climbing to multi-year highs.
A new report, Trade tensions and the construction sector: Navigating supply chain disruption, suggests risk awareness should be embedded into decision-making processes at construction companies to mitigate the risk of delays and escalating costs, and insurance solutions should be investigated to manage those risks.
This article from Insurance Business has more details.
