Tuesday, April 25, 2017

Homebuilders Worried about 20% Tariff on Canadian Lumber

The announcement Monday night of a new set of tariffs on Canadian softwood lumber imports has resulted in falling stock prices for large homebuilders in the U.S., and concern among industry experts that building costs will increase sharply. Granger MacDonald of The National Association of Homebuilders (NAHB) told The Hill that NAHB is "deeply disappointed" and that the new tariffs will "negatively harm American consumers and housing affordability." Approximately 95% of lumber imports to the U.S. came from Canada last year, and lumber costs account for approximately 8-12% of the price of a new home. Read more.