US home builders oppose proposed tariff hikes

US home builders are voicing concern over a potential 25% tariff on Canadian imports, warning that it would worsen housing affordability.

President-elect Donald Trump announced these hikes on Monday, indicating that he may implement the tariff once he takes office in January 2025. The National Association of Home Builders (NAHB), which represents over 140,000 members, has long advocated for a trade agreement ensuring affordable access to Canadian softwood lumber.

“Increasing tariffs on Canadian softwood lumber will further exacerbate our nation’s ongoing housing affordability crisis,” noted NAHB CEO Jim Tobin.

This comes after the current US administration raised the tariff on Canadian lumber products from 8.05% to 14.54% earlier this year.