President Trump’s plan to double tariffs on foreign steel and aluminum — from 25 to 50 percent — could have sweeping effects on projects across Maryland, most notably the construction of the new Francis Scott Key Bridge. Steel prices have risen 16 percent since Trump became president in mid-January, according to the government’s Producer Price Index. Experts warn that even higher steel prices could threaten key infrastructure and manufacturing projects.
Key Bridge: Construction of the new Key Bridge is expected to begin in the early fall with an estimated cost between $1.7 billion and $1.9 billion. The new bridge, which will be a taller cable-stayed bridge, is projected to be completed by October 2028. Economists warn that if tariffs stay in place, projects that have not pre-ordered will likely face increasing costs, including the Key Bridge.
