President Donald Trump’s proposed 25% tariff on imported aluminum and steel, even from allies like Canada and Mexico, who supply the majority of U.S. metal imports, would directly increase the cost of home building if they go into effect as planned on March 12, experts say.

The 25 percent tariffs on imported steel and aluminum are the latest salvo in his ongoing effort to overhaul the U.S. trading relationship with the rest of the world.

The president said he planned sweeping tariffs on all steel and aluminum imports on Monday and would take other action to even out tariff rates with the rest of the world later this week.

President Trump is proposing stiff new tariffs on steel and aluminum. Trump also ordered the Treasure Department to stop minting pennies. NBC News Business and Data Correspondent Brian Cheung joins Ana Cabrera to break it all down.

India's smaller steelmakers could be forced out of business by a further surge in imports resulting from sharp tariff increases imposed by U.S. President Donald Trump, industry executives warned on Monday.

Sensex closed at 76,293.60 points, down 1,018.20 points or 1.32 per cent, while Nifty closed at 23,071.80 points, down 309.80 points or 1.32 per cent.

India is among the ten countries most affected by former US President Donald Trump’s recent decision to impose a 25% tariff on all steel and aluminium imports. The move, which aims to protect American manufacturers,