WASHINGTON, DC — The National Association of Home Builders has sharply criticized a decision by the Biden Administration to double the tariffs on Canadian lumber shipments into the U.S., charging that the move would “exacerbate market volatility, put upward pressure on lumber prices and make housing more expensive.”
Chuck Fowke, chairman of the Washington, DC-based NAHB, charged that the recent decision by the U.S. Commerce Dept. to proceed with an administrative review to increase the tariffs on Canadian lumber shipments from 9% to 17.9% would be counterproductive to a housing market that is already facing considerable challenges to future growth.
“With the nation in the midst of a housing affordability crisis…this is the worst time to add needless housing costs onto the backs of hardworking American families, Fowke said. “Home builders are grappling with lumber and other building material supply chain bottlenecks that are raising construction costs. And consumers are dealing with rising inflation that is pushing mortgage interest rates higher.
“The White House needs to change course and move immediately to engage with our Canadian partners on a long-term solution to the trade dispute that will end tariffs and help restore price stability to the lumber market.”