Steel tariffs: allocating risk and protecting margins
Summary
The article explains how the UK’s Steel Strategy and quota-based tariff measures may increase cost and programme uncertainty for construction projects that rely on imported steel. It argues that contractors and employers should address tariff exposure early through bespoke contractual risk allocation rather than relying on standard-form remedies after costs arise.
Why it matters
Residential property surveyors involved in development, refurbishment or contract administration may encounter projects where steel procurement costs and delays affect budgets, programmes and valuations. Understanding how tariff risk is being allocated is important when reviewing contract terms, advising on project risk, or assessing the commercial impact of supply chain changes.
Key points
- Imported steel may attract additional tariffs once UK import quotas are exhausted.
- Standard construction contracts may not clearly address quota-based trade measures.
- Tariff risk can affect both cost certainty and programme delivery.
- Bespoke contract provisions are being used to allocate tariff exposure and provide relief mechanisms.
- Domestic sourcing of steel may reduce exposure where feasible.
This is an RPSA summary of a publicly available article. The full content remains with the original publisher.
