Supreme Court's tariffs case could have minimal impact on construction costs Supreme Court to decide on Trump tariffs, but many construction levies will remain

"The Supreme Court could decide on the legality of many of the Trump administration's tariffs within months, but the ruling won't impact many of the administration's levies on imported construction materials such as lumber, steel, aluminum and copper. The case before the Supreme Court contests the legality of the president's use of the International Emergency Economic Powers Act (IEEPA) to enact sweeping tariffs on almost every country, including the reciprocal Liberation Day levies announced on April 2."

"However, many construction materials imported into the United States will remain subject to hefty tariffs regardless of how the Supreme Court rules, and some of these levies could increase in the months ahead. In response, some homebuilding leaders warn that home prices could increase by thousands of dollars beginning next year, threatening to lock even more Americans out of the housing market."

The Supreme Court may soon rule on the legality of tariffs enacted under the International Emergency Economic Powers Act (IEEPA), but many construction-materials levies are governed separately under Section 232 and are likely to remain. These unaffected tariffs include 50% steel and aluminum duties (effective June), 50% on semi-finished copper and derivatives (effective August), a 10% tariff on all softwood lumber (effective October) with Canadian lumber at 45%, and kitchen cabinet and vanity tariffs rising from 25% to 50% on January 1. Some levies could increase further, and industry leaders warn of housing cost increases that could lock buyers out of the market.

Read at www.housingwire.com