his company\u2019s<\/a> annual results, Quinn warned that main contractors will need to tread \u201cvery carefully\u201d to decrease the impact of the steel tariffs on the supply chain.<\/p>\nUS president Donald Trump yesterday introduced global tariffs of 25 per cent on steel, aluminium and all steel derivatives, raising concerns among the metal manufacturing and construction sectors.<\/p>\n
Ahead of the introduction of those tariffs, Quinn addressed Trump\u2019s plans to increase tariffs on Canadian steel and aluminium from 25 per cent to 50 per cent. Trump later decided to row back those changes.<\/p>\n
\u201cWhen [the US] puts steel tariffs up by 50 per cent on Canada, we need to be careful because we carry a big backlog and it all goes into the subcontract base,\u201d Quinn said in a statement following the firm\u2019s annual results.\u201d<\/p>\n
He added: \u201cOur risk doesn\u2019t sit with us, it sits with the subcontract base and [\u2026] it flows back to the customer.\u201d<\/p>\n
Quinn called on main contractors to be \u201cvery, very careful\u201d to limit the tariffs\u2019 impact on the construction sector supply chain.<\/p>\n
In 2024, the US was the third biggest importer of UK steel, to the tune of \u00a3368.2m, according to the International Steel Statistics Bureau (ISSB).<\/p>\n