What the new NAFTA deal — the USMCA — means for real estate

President Trump is happy to have a deal

The new NAFTA agreement which has been re-branded to USMCA still must pass in congress.

Not much… The agreement does not resolve the aluminum (10%) and steel tariffs (25%), which were imposed earlier this year. 

Be Smart: Steel material comprises around 16% of the total building cost for a typical commercial project. Costs of construction have therefore increased.

President Trump is emboldened on trade… As quoted in the NYTimes: “Without tariffs, we wouldn’t be talking about a deal… Just for those babies out there that keep talking about tariffs.”