Story perspectives
Trump's Tariff Hike Raises Housing Costs Nationwide
5/14/2025
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Story summary
- President Trump raised import tariffs on aluminum and steel, affecting multiple U.S. industries.
- Increased tariffs are expected to raise building costs for multifamily housing, driving up rental prices.
- Notable cities with significant multifamily permit increases for 2024 include Milwaukee (101.3%), Oklahoma City (90.4%), and Cleveland (37.9%).
- Rising tariffs will likely impact new development plans across the country.
