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Fox Business Kelly Saberi provides information on how the tariffs in Canada will affect the supply and production of the United States.
President Donald Trumps Tariffs have caused an increase in wooden prices, which are warning of households, will increase construction costs and become more expensive apartments for US consumers.
Lumber prices have hit the highest level of two and a half this week and wood futures are more than 14% so far as a result of concerns on tariffs. These developments come after Trump after signing an executive order at the beginning of this week, after signing a national security investigation into the “weakness in the wooden supply of wood and wood and subsidiaries.
This may result in higher discharge of the investigation Canadian wooden tariffs applied at the end of this year. Before returning to the White House in January, the Canadian import tariff, which brings together the total tariff on March 4, along with 25% of 25% of Canadian imports, along with 25% tariffs.
Although Trump also signed a decree on expanding local entrance, more tariffs in Canada – the dominant source of US loamon imports – the dominant source of the United States – the concern was concerned about the fact that Americans affect the availability of housing.
Trump issues, lumber production, executive rules for applying for national security concern
Homebuilders warns President Trump to raise the costs for homebuyers of Canadian wooden tariffs. (Getty Images / Angus Mordant / Bloomberg through Getty Images)
The National Association of Home Builders (NAHB) noted about $ 8.5 billion dollars in the United States in 2023, the import of these imports (or $ 5.8 billion) from $ 7.5 billion Comes from Canada.
NAHB Chairman Carl Harris will provide this action to lead the executive power to increase the value of the apartment and increase the value of the apartment on the first day of President Trump on the first day of President Trump. “
“Tariffs on Lumber and other construction materials increase construction costs and rejects new development and Consumers end to pay For the tariffs in the form of higher home prices, Harris, Trump management should reconsider the tariffs, and instead, the apartment should remove more expensive and restricted barriers.
Due to tariffs, construction material prices can increase
Canada is about 70% of the US grain imports, which expose the homebuilding industry. (Mario Tama / Getty Images / Getty Images)
This Beige book of the Federal Reserve – A regular report exploring the current economic conditions in the country with 12 regional districts of the Fed, as well as the National Summary, Wednesday, and said comments that emphasize concerns about higher wooden costs due to tariffs.
“Construction activity was rejected for both living and non-residential units. In the sector, some relations expressed anger about the effects of potential tariffs on the cost of wood and other materials,” Fed said.
President Trump has issued an executive order aimed at expanding domestic wooden production, although it is not known how soon it can affect. (Mario Tama / Getty Images / Getty Images)
Four of 12 regional banks, including Richmond, St. Luis, Kansas City and San Francisco, referred to concerns Higher prices In February, the expected tariffs for lumber and other building materials affect.
“Contact Real estate construction In recent weeks, the increase in the escalation items during the talks and wanted to protect the materials expected in the investor’s policy, “Kansas City” said the summary of the “Kansas City”.
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“Similarly, lending, said they were more careful in the risks associated with the potential growth of material expenditures during the underwriting process,” he said.
