Tariffs are “exacerbating the housing affordability crisis”
The chairman of the National Association of Home Builders is urging the Trump Administration to rethink the threats to impose tariffs of an additional $267 billion worth of Chinese imports.
Randy Noel says that while they may be well-intentioned, it will raise costs for American consumers including home builders and add to the challenges for homebuyers.
“Currently, tariffs on steel imports and Canadian lumber shipments into the U.S. are needlessly increasing the cost of building materials and exacerbating the housing affordability crisis,” he said. “Rather than escalating the situation, NAHB respectfully urges the administration to move quickly to resolve these trade disputes in a manner that won’t tax American workers and consumers.”
Noel says that the newly-proposed tariffs on Chinese imports, together with those already in the pipeline could act as a tax increase of $2.5 billion for the residential construction industry.
