Trump’s tariffs on steel, aluminium, and other key materials are driving up construction costs and squeezing profit margins for US developers. Some projects are seeing price hikes of up to 20%, forcing builders to delay or rethink their investments. The knock-on effects are hitting everything from warehouse construction to office renovations, with no clear end in sight. As uncertainty looms, developers are bracing for a slowdown.

Will these tariffs reshape the future of US commercial real estate? Read the full analysis here.