As of March 13, 2025, President Trump's recent tariffs on foreign steel and aluminum imports have significantly impacted the U.S. construction industry. Developers are experiencing substantial cost increases, with steel prices rising by 8-10%, leading to budget overruns in projects like the Newark warehouse, which saw a $2 million increase.

Commerce Secretary Howard Lutnick defends these tariffs, asserting they're "worth it" even if they trigger a recession, aiming to boost domestic production and revenue. These policies have also affected global markets, with Asian stocks declining and gold prices nearing record highs due to economic uncertainty. Investors should monitor these developments closely, as they may influence various sectors and asset classes. #USTariffs $BTC