Michel Kelly-Gagnon

Anthony Kim

Lingering supply chain problems, increased cost of materials and labour shortages are putting upward pressure on house prices in the United States, which are 20 per cent higher than they were a year ago. With housing affordability threatened, American home builders are asking the Biden administration to temporarily lift tariffs on building materials such as steel and lumber from China and Canada. …These tariffs act as a tax on American homes, driving up costs for builders (and hence buyers) and exacerbating price volatility. …Ultimately, these duties benefit only American lumber producers, who seek to protect their market share. …American lobbyists are good at getting what they want, but tariffs are a lousy way to treat any trading partner, much less a close friend and ally. …There are enough economic and trade troubles in the world today. The mutually beneficial Canada-U.S. relationship should not become one of them. [Access to the full article may require a subscription to the Globe and Mail]