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In recent months, large Canadian construction companies have acted more strongly than their North -American counterparts, but the contractors of the two countries face the uncertainty and fall in commercial policies by President Donald Trump.
Between the Cobra that the United States have imposed on Canada – And they are still valid, they are a 25% tax on steel and aluminum broadcast on March 12 and an initial reciprocal rate of 10% issued on April 5, according to the DIVE supply chain. Canada, on the other hand, has responded with its own retaliation rates, more recently on April 9 with a 25% tax on imports of vehicles manufactured in the United States.
Commercial tensions mark a disadvantage of the historically neighborhood relationship of countries, personified through Projects like the Gordie Howe bridge between Windsor, Ontario and Detroit.
Since the election, the value of stocks for the Canadian engineering companies WSP and Stantec “ have dramatically surpassed companions ” such as AECOM, Bowman Consulting Group, Fluor, Jacobs, KBR, NV5 Global and Parsons, who saw their actions reduced during this period, according to an analysis of March 23, which the Milwaukee Baird firm shared with the construction of Milwaukee Baird. of the construction.
The reasons for this descent are complex, but according to Baird’s senior research analyst Andrew Wittmann. The basis of shareholders of the Canadian companies are much more stable, as a large part of them are owned by several Canadian pension plans, while the actions on the United States list do not have the same benefit. He said change rates are a factor and currency markets have also been quite volatile.
“In my opinion, the relative difference in performance of actions between Canadian design companies and those contributed to the United States is another matter of the general performance of financial markets between the two countries, instead of anything specific to tariff policies,” Wittmann told Construction Dive in an email. “Companies on the Canadian list have a lot of exposure to [the] United States Market. “
Construction activity in Canada It has shown modest growth in recent months, according to the economic report of the Canadian construction association. Toronto cranes count grew by 20% between August 2024 and February 2025 Rider of the endexWhile the Calgary cranes count remained stable. The rest of the cities surveyed are in the United States and seven of them recorded falls, with a domestic fall of 19% in general.
However, the emerging The trade war is likely to have a significant impact According to the Canadian construction industry and the projects planned and ongoing, including costs and project delays, according to the Canadian law firm, MLLT AIKINS. Many Canadian projects are based on specialized service suppliers and engineers in the United States as critical components of projects.
“ In many ways, the Canadian and North -American construction industries have been integrated, with Canadian suppliers who sell many materials and supplies in the United States (that is, wood) and many Canadian builders and owners who are based on the United States materials and supplies (that is, machinery, equipment, steel, etc.), ” according to a company block office.
Canada is hit again
Trump The rates are at a significant risk For the construction industry in the Great North White, according to the Canadian Construction Association. They will probably translate into an increase in the costs for the construction of homes and the infrastructure that allow trade, and will also affect supply chains and commercial relations.
Taxes will damage the integrated economy that Canada and the participation of the United States, said Rodrigue Gilbert, President of the Canadian Construction Association, in a March statement.
“Canadian and American construction industries are highly based on free-flow supplies of essential construction materials. These unnecessary rates will decrease productivity, harm economic growth and jeopardize critical projects and countless construction work-on both sides of the border,” said Gilbert.
