Sean McNally, a partner with Troutman Pepper Locke, was quoted in the February 23, 2026 Law360 article, “Tariff Decision May Offer Fleeting Relief For Real Estate Sector.”

“The Supreme Court’s ruling striking down the administration’s IEEPA based tariffs brings short term clarity but not long term certainty for the construction and real estate sectors. Companies will be closely monitoring ongoing and potential trade negotiations, while many are evaluating whether and how tariffs already paid under IEEPA may be recovered absent litigation. At the same time, the administration’s use of Section 122 of the Trade Act of 1974 introduces a 150-day window of temporary relief, with the new uniform 15% tariff likely lowering effective rates, including key construction inputs such as steel, aluminum, copper, lumber and electronics. Taken together, these developments underscore that tariff-related cost, contracting and supply chain risks for developers and builders will remain highly dynamic.”

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