Imported steel and aluminum already subject to a 25% tariff are excluded from President Trump's new levies, providing some relief for metal buyers that would have faced significantly higher prices, but the new tariffs nevertheless will raise the cost of raw materials for steelmakers that operate electric arc furnaces,

Imported steel and aluminum already subject to a 25% tariff will be excluded from the new tariffs President Trump announced Wednesday. Trump last month increased and expanded the tariffs on imported steel and aluminum that he began in 2018.

Steel and aluminum are essential for high-rise construction, and are often cheaper to produce in countries like China, Mexico or Canada, one expert said.