After several years of consistent mortgage rate increases and soaring home prices, the prognosis for the 2025 housing market seemed promising at the start of the the year. However, recent economic and political instability has cratered consumer confidence and homebuyer optimism.

Items such as tins, vape hardware and specialized glass remain difficult to source domestically, and companies remain largely dependent on Asia.

Leaders in Canada, the United Kingdom and the European Union are processing the impact of President Trump's tariffs announcement. CBS News' Ramy Inocencio and Lana Zak report on how the news was felt abroad.