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11-03-21 | News

NAHB Calls to Ease Canadian Lumber Tariffs

Hopes it Would Relieve Supply Chain Issues

The National Association of Home Builders (NAHB) questions why Canadian lumber tariffs aren't lifted as European steel and aluminum tariffs were lifted at the G-20 summit. NAHB expressed concern that Canadian lumber could aid in housing affordability.

The National Association of Home Builders (NAHB) calls on the Biden administration to ease tariffs on Canadian lumber after the administration eased tariffs on European steel and aluminum at the G-20 summit in Rome.

The NAHB hopes that Canadian Lumber tariffs being lifted would create more affordable housing as the market continues to spike.

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A report in the Wall Street Journal noted that U.S. Commerce Secretary Gina Raimondo said the European Union deal," "will provide relief in the supply chain and drive down cost increases. Of course, it is also good for the American manufacturers who use steel and aluminum in their products."

The NAHB/Wells Fargo Market Index measure of single-family builder sentiment rose four point in October to 80 while, new home sales rose 14 percent to 800,000 in September, however median housing prices were up 19 percent from a year ago.

"U.S. Commerce Secretary Raimondo was quoted as saying the agreement with the European Union will 'provide relief in the supply chain and drive down cost increases.' "But what about cost relief for millions of American home-buyers and home-owners who have seen the cost of housing rise by tens of thousands of dollars over the past year due in part to unprecedented lumber price volatility fueled by tariffs on Canadian lumber?" NAHB Chairman, Chuck Fowke questioned, "Until a long-term solution can be reached, the administration needs to suspend duties on all imported building materials and goods, including Canadian lumber, to ease supply chain bottlenecks that are causing project delays and putting upward pressure on home prices."



https://nahbnow.com/2021/11/nahb-calls-for-action-on-canadian-lumber-as-biden-eases-tariffs-on-european-steel/

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