President Donald Trump’s new 25 percent tariffs on steel and aluminum imports from Canada and Mexico threaten to make the U.S. housing shortage even worse and cause housing prices to soar, Democrats and industry experts warned Wednesday.
“In his first administration, President Trump instituted an America First economic agenda of tariffs, tax cuts, deregulation, and an unleashing of American energy that resulted in historic job, wage, and investment growth with no inflation,” said spokesperson Kush Desai.
Beyond the tariffs on steel and aluminum, the overall tariffs on Canadian lumber would rise to nearly 40 percent because of a 14.5 percent duty already in place, the association noted.
“Tariffs on building materials raise the cost of housing, and consumers end up paying for the tariffs in the form of higher home prices,” the NAHB warned on its website.
“In his second administration, President Trump will again use tariffs to level the playing field and usher in a new era of growth and prosperity for American industry and workers.”.
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