Despite promises of a “reshoring boom”, the survey that included 380 business and supply chain professionals revealed that high costs are steering companies toward alternative low-tariff countries and not back to the U.S.
The world’s largest industrial developer and landlord announced a spike in warehouse leasing activity following the U.S. November election, which has improved the company’s outlook for warehouse demand in 2025.
Trade tariffs may lead to inflation and recession, as seen in the past, with profound effects on the construction sector, impacting both costs and demand. And immigration policies that induce fear among workers could worsen the ongoing labor shortages in construction, making it harder to recruit and retain skilled labor.
During his first week back in office, Trump confirmed that February 1 was the target date for implementing a 10% tariff on imports from China and a 25% tariff on goods from Canada and Mexico.
The major container ports in the U.S. are expected to see a continued surge in imports with a strike at East and Gulf Coast ports possible in January, and President-elect Donald Trump planning to increase tariffs.