In a comprehensive interview in the morning with American Treasury Secretary Scott Besant, Maria, weighing at the meeting of President Donald Trump with Vladimir Putin, update the US-China business talks and housing strength crisis solutions.
Treasury Secretary Scott Besent said on Monday that Trump is reducing the announcement of administration National housing emergency In an attempt to address high housing prices and limited inventory.
“We can declare a national housing emergency in the fall,” Besent said Washington examiner In a labor day interview.
Bessent cut that interest rate federal Reserve Help will be helpful to lower housing prices, but also admitted in the interview that the Trump administration may take other steps aimed at reducing some costs along with the expansion of the housing supply.
Treasury Secretary Scott Besent said that the Trump administration is considering ways to use the National Housing Emergency to promote supply and reduce prices. (Fox News Channel / Fox News)
“We are trying to find out what we can do, and we don’t want to step into the business of states, counties and municipal governments,” Besant said. “I think everything is on the table.”
Bessent chose the President against listing executive work Donald Trump If the White House declares a national housing emergency, but the examiner said that the authorities are assessing ways to reduce the closing cost along with standardizing the local building and zoning code.
A house for sale in cupertino, California, US on Wednesday, February 7, 2024. (Photographer: Loren Elliott / Bloomberg Getty Embolce / Getty Image)
The Treasury Secretary also told the outlet that the Trump administration can consider some tariff exemption for some Construction material To reduce costs.
The implementation of tariff policies of Trump administration has particular instability this year, especially we have been imported canadian wood.
Battle on lumber tariffs can reopen the future of building our house
Besant said that the Trump administration could consider a tariff exemption for construction materials. (Angus Mordant / Bloomberg Getty Image / Getty Image)
The National Association of Home Builders (NAHB) reported that until the week ended August 22, the overall value of the framing wood was 5.8% year-to-year, while the wooden futures were 19.1% more than a year ago despite the recent decline.
In July, the Department of Commerce announced that it would be more than doubled counterwelling duties on Canadian softwood Lumber imports 6.74% to 14.63%. NAHB noted that Canadian wood is subject to an anti-dumping tariff of 20.6%, which brings up to 35.2%of the total rate applied to Canadian wood.
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Other construction materials that are sensitive to tariffs are gypsum, used in drywalls and imported from Mexico on a large scale.
