President Trump announced a temporary suspension of new tariffs on Canada and Mexico before they took effect, responding to concerns from homebuilders about increased construction costs. The tariffs were initially intended as punitive measures against illegal immigration and drug trafficking. In exchange for the suspension, both countries agreed to enhance border security efforts. Homebuilders had warned that imposing these tariffs could worsen the housing crisis by raising prices. Major building materials, including softwood lumber and gypsum, are largely imported from these nations, making tariffs especially impactful.
Tariffs on lumber and other building materials increase the cost of construction and discourage new development, and consumers end up paying for the tariffs in the form of higher home prices.
This is very narrowly focused on national security. The point of these tariffs was to convey the severity of what we are facing.
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