The National Association of Homebuilders (NAHB) has formally requested tariff exemptions from President Trump for building materials imported from Canada and Mexico. This request stems from the newly imposed 25% tariffs, which threaten to raise construction costs in the U.S. amid a housing shortage. The NAHB argues that increasing tariffs will hamper domestic construction efforts by escalating material costs, ultimately impacting home prices and hindering recovery efforts in disaster-affected areas. With a reliance on imports from Canada and Mexico for about 25% of materials, the association is calling for a coordinated approach to alleviate these challenges.
The proposed 25% tariffs on Canada and Mexico will slow down the domestic residential construction industry, exacerbating the existing housing shortage and affordability crisis.
NAHB is concerned that additional tariffs will lead to higher material costs for builders, which will ultimately raise housing prices for home buyers.
The construction sector relies on a diverse, cost-efficient supply chain; Canada and Mexico provide 25% of the building materials necessary for U.S. home building.
Increased tariffs could hinder rebuilding efforts in areas affected by natural disasters, contradicting the administration's commitment to ensure swift recovery and rebuilding.
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