On May 1, 2025, U.S. Senator Elizabeth Warren, joined by Senator Jeff Merkley and Senator Lisa Blunt Rochester, led a group of 19 Senators in expressing concern to President Trump regarding his administration's trade policies. They addressed how his tariffs are affecting housing costs amid a nationwide shortage.
The letter highlights an increase in housing costs, linked to tariffs on materials like aluminum and steel, impacting construction expenses and insurance premiums. "Your tariffs are increasing housing costs for Americans," the Senators stated, urging the President to focus on policies that will alleviate rather than exacerbate the housing crisis.
They cited the National Association of Home Builders, predicting costs for new homes could rise by $7,500 to $10,000. Furthermore, the Senators noted that economic uncertainty from tariffs is affecting interest rates, further increasing construction and mortgage costs.
The letter was also signed by Senators Cortez Masto, Gillibrand, Heinrich, Klobuchar, Murray, Luján, Peters, Reed, Rosen, Sanders, Schatz, Schiff, Shaheen, Van Hollen, Warnock, and Welch.