Copyright: FotograFFF
This week, the Trump Administration imposed new tariffs on Canadian softwood lumber that may increase the cost of wood construction nationwide. The tariffs result from a long-running dispute over lumber subsidies provided by the Canadian government to the disadvantage of American lumber producers. However, the housing industry and consumers may be negatively impacted by the 20 percent tariff on Canadian lumber imports. Residential home construction is the primary consumer for Canadian lumber and research from a recent Annual Builder Practices Survey conducted by Home Innovations Research Labs estimates that $5,354 of softwood lumber is used in an average multifamily home.. Consumer lumber costs will increase approximately 6 percent according to research conducted by the National Association of Home Builders. .
A more comprehensive review of the issue can be found here.
