Trump's Tariffs Could Worsen U.S. Housing Crisis

President Donald Trump's proposed tariffs on steel and aluminum imports from Canada and Mexico have raised concerns among Democrats and industry experts about exacerbating the U.S. housing crisis. The 25% tariffs, aimed at protecting domestic industries, could increase the cost of construction materials, thereby driving up housing prices and worsening the housing shortage. Representative Jim Costa, along with over 40 Democrats, urged Trump to reconsider these tariffs, citing potential cost increases of up to $4 billion for imported materials, which would further burden American builders and consumers. The National Association of Home Builders noted that increased costs from tariffs could add approximately $9,000 to the price of an average single-family home. While the Trump administration believes tariffs could stimulate economic growth, critics argue they would ultimately restrict affordable housing development. Trump has delayed implementing these tariffs for a month as discussions with Canadian and Mexican officials continue.