It’s a blow to U.S. homebuyers and homebuilders, says NAHB
National Association of Home Builders President Chuck Fowke issued the following statement after US Commerce advanced an administrative review last week to double tariffs on Canadian lumber shipments to the United States, from 9% to 17.9%:
“As the country is in the midst of a housing affordability crisis, the Biden administration has decided to impose a huge unwanted tax increase on American buyers and tenants by doubling tariffs on timber shipments. Canadian work in the United States. Now is the worst time to put unnecessary housing costs on the backs of hard-working American families. Home builders are struggling with bottlenecks in the lumber and other building materials supply chain that drive up construction costs. And consumers face rising inflation that drives mortgage interest rates up.
Decision undermines historic housing finance pledge made in Build Back Better legislation and erodes efforts by Commerce Secretary Raimondo and other officials in the Biden administration to tackle wood supply issues labor and building materials that plague the industry Doubling tariffs will only exacerbate market volatility, put upward pressure on timber prices and make housing more expensive. appease China and Europe with privileged trade deals, the White House must change course and act immediately to engage with our Canadian partners on a long-term solution to the trade dispute that will end tariffs and help restore price stability in the lumber market. ”