President Donald Trump on Feb. 10 imposed 25% tariffs on all steel and aluminum imports that go into effect on March 12.
In response to Trump’s tariffs, the National Association of Home Builders released a statement saying the tax would drive up housing costs and “could substantially impact builders’ ability to deliver new single-family and multifamily projects.”
“Through an executive order on his first day in office, President Trump made it a top priority to reduce housing costs and increase housing supply to ease the nation’s housing affordability crisis,” NAHB Chairman Carl Harris said in a statement. “The administration’s move to impose 25% tariffs on all steel and aluminum products imports into the U.S. runs totally counter to this goal by raising home building costs, deterring new development and frustrating efforts to rebuild in the wake of natural disasters. Ultimately, consumers will pay for these tariffs in the form of higher home prices.”
