SEATTLE (Scrap Monster): Washington, D.C.-headquartered trade association the National Association of Home Builders (NAHB) called upon the U.S. administration to act immediately on negotiating and finalizing a new softwood agreement with Canada that will end tariffs. The call came in the wake of Biden administration reaching a deal with the UK on lifting tariffs on steel and aluminum imposed by the former Trump administration.
Commenting on the matter, Jerry Konter, Chairman, NAHB said that the government must act with the same sense of urgency to negotiate a new agreement with its neighbouring country that will eliminate tariffs on lumber imported from that country.
Konter noted that the U.S. is already in the midst of a housing affordability crisis. The lumber tariffs have contributed significantly to the unprecedented volatility in prices. Incidentally, the price of a new home has surged higher by almost $18,600 since August 2021. Any failure to act decisively will turn out to be a bitter blow for home buyers and for housing affordability, he added.
Since long time, NAHB has been firm on its stand that the lumber tariffs acts as a tax on American home buyers and home owners. It urged the U.S. administration to return to the negotiating table to put an end to the harmful tariffs.
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