The United States is highly reliant on steel imports, bringing in more of the material from abroad than any other country in the world, according to the International Trade Administration. More than 26 million metric tons of steel were imported last year, most of which came from Brazil, Canada, Mexico, South Korea, and China.

U.S. homebuyers stand to bear the brunt of higher costs for builders from the new 50-percent tariffs on imported steel and aluminum.

The U.S. has imposed a 50% tariff on steel and aluminum imports, aiming to protect domestic industries. This move, announced by President Trump, has sparked global reactions, with key trading partners like Mexico and the EU expressing concerns.