Trump’s Trade War Is Bumping Up Costs for Seattle’s NHL Arena

Add this to the list of reasons why professional sports stadiums often cost more than expected: President Donald Trump’s global trade war.

The backer of a plan to gut and rebuild Seattle’s KeyArena said tariffs on construction materials such as steel, aluminum and rebar are ratcheting up the tab for the soon-to-be-overhauled venue, which will host an expansion team for the National Hockey League.

“We have seen a rapid inflation on those costs,” Tim Leiweke, chief executive officer of Oak View Group, which is undertaking the project, said on the Bloomberg Business of Sports podcast released Thursday. “Even when you have manufacturers and suppliers that are within the United States, they know they can charge more now because of the tariffs.”

While some U.S. firms have benefited from Trump’s trade war, many have complained about the collateral damage. Companies including Caterpillar Inc., General Motors Co. and Harley-Davidson Inc. have all said that the tariffs will eat into their profits. Real estate services firm CBRE Group Inc. said in a March report that the extra expenses could exacerbate the already climbing costs to build commercial properties in the U.S.

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