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.

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,

President Donald Trump's tariffs will raise the prices on some goods more dramatically than others. See which items will suffer the biggest jumps.

President Trump's tariffs are going to affect products imported by U.S. companies, with importing companies likely to pass on those costs to consumers through higher prices.