Mortenson tracks costs in several U.S. markets, and tariffs have affected the company’s projections for them all through the rest of the year, although the expected cost increases vary from metro to metro. In Chicago, the company expects cost increases in the 5% to 7% range, along with Denver (7% to 8%), Milwaukee (6% to 8%) and Minneapolis (4% to 6%). As with the forecast for Chicago, those percentages could come down if the tariffs and trade wars can be resolved.
