Fox Business Correspondent Kelly Sabri reported from Chicago how the proposed tariff ‘The Big Money Show’ can increase the overall duty on Canadian wood on ‘The Big Money Show’.
The Lambar is in the spotlight as the National Association of Home Builders (NAHB) and the US Lumbar alliance, which is behind what is behind the US housing market recession.
Fox Business Correspondent Kelly Sabri On Monday, NAHB has pointed to uncertainty as partially responsible and tariffs the prices of wood.
The US current anti-dumping and anti-subsidy duty on imported Canadian softwood wood is 14.5%. It can potentially climb up to about 35%a year.
Workers move wood outside a house outside a house under construction in NY, NY, NY on 15 October 2024. (Angus Mordent/Bloomberg via Getty Image)
Canada According to NAHB, softwood lumbar makes about 85% of the US imports and about a quarter of the US supply.
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NAHB CEO Jim Tobin said, “I share the desire of President Trump to create a fair and balanced business on his borders, of course we will bring back the production as much as possible.” “But until we do this, and it will invest for many years and millions of dollars, we need to ensure that we have a reliable, inexpensive source of wood.”
Stacks of wooden cases are seen in a yard on 3 February 2025 in a yard in Edmonton, Alberta, Canada. (Artur Vidak/Narfoto Getty Image)
Sabari said that the American Lumber alliance “says that the price of wood says something different about this story.”
He reported that between May 2021 and April of this year, random length overall value decreased by 67%. According to NAHB, till 23 May, $ 442 per 1,000 board feet was at feet.
Meanwhile, the price of new houses has increased by 21%, Sabari said.
“Everything from regulatory costs to the cost of land and quite clearly, the cost of homebuilder profitability rates has also increased, they are actually driving forces. Home strength“Zolton Van Heingen, Executive Director of the US Lambar alliance, told Fox Business.” Lumber is not just one of them. ,
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The US Lambar alliance has also been important for Canada, saying “is running Unfair trade practices“By its wooden industry” American wood is extremely harmful to producers, workers and their forest-dependent communities. ,
John Kalabich, owner of Acme Lambar in Chicago, told Sabiri that he was able to keep prices relatively flat in the last 12 months due to duty on Canadian wood.
He has also heard from the contractors that the demand for small repair work and large ticket construction has decreased.
Trump addresses executive orders lumbar production, national security concerns
Last month, the US Census Bureau stated that single-family housing faced a seasonal rate of 927,000 in April from 2.1% declining annual rate from March.
Workers are shown in front of the houses under construction in Kyle, Texas on March 18, 2024. (Jordan Wonderhar/Bloomberg via Getty Image)
In April, the sales of new single-family homes came at a seasonal-adjusted rate of 743,000, while the existing people had a selling of 3.63 million.
