GTA Industrial Spark Report: Steel Tariffs
- U.S. tariffs on steel and aluminum imports lead to Canada imposing the same tariffs on U.S. steel and aluminum imported into Canada.
- Despite the 25% tariff applied on Canadian imports which supply half the steel used in construction, steel prices on a per square footage basis have increased nearly 40%.
- Landlord-developers are increasing rental rates on new developments to compensate for the increase in steel prices.
- The lack of industrial availability in the GTA has seen higher rental achieved for existing properties.