When 45 (Trump) went tariff crazy, he made lumber from Canada much more expensive. Now, his proposed new tariffs can increase the price of lumber by about 300 percent, making America more expensive to live in.
Trump Tariffs Could Nearly Triple Lumber Costs Raising Housing Concerns
As President Donald Trump ushers in a slew of new policy changes, the proposed 25 percent tariffs on imports from Canada and Mexico—if implemented after the recently introduced 30-day pause—could significantly escalate the cost of lumber, further complicating the already strained U.S. housing market.
experts predict a near-tripling of costs that could undermine home affordability at a time when the nation grapples with a housing crunch.
Why It Matters
The potential for rising lumber costs comes at a time when the U.S. housing market is already navigating a maze of affordability issues, driven by skyrocketing construction costs and a shortage of available homes.
Some experts speculate tariffs could exacerbate these challenges, making it harder for builders to procure affordable materials and for buyers to find reasonably priced homes.
The potential for rising lumber costs comes at a time when the U.S. housing market is already navigating a maze of affordability issues, driven by skyrocketing construction costs and a shortage of available homes.
Some experts speculate tariffs could exacerbate these challenges, making it harder for builders to procure affordable materials and for buyers to find reasonably priced homes.
According to Carl Harris, chairman of the National Association of Home Builders (NAHB), over 70 percent of softwood lumber and gypsum, which is used in drywall, originate from Canada and Mexico and serve as critical construction materials.
