The tariff exceptions for Canada and Mexico amount to a major win for NAHB, as Canada accounts for roughly 85% of all US softwood lumber imports and accounts for nearly a quarter of the available supply in the US. Further exempting Mexican products is also a big win given major construction cost drivers such as gypsum, concrete and near-shored appliances. NAHB Chairman Buddy Hughes said, “While the complexity of these reciprocal tariffs makes it hard to estimate the overall impact on housing, they will undoubtedly raise some construction costs. However, NAHB is pleased President Trump recognized the importance of critical construction inputs for housing and chose to continue the specific exemption for lumber from any new tariffs at this time.” The fight isn’t over on lumber given a current anti-dumping and anti-subsidy investigation by the Department of Commerce on Canadian lumber imports and the ongoing national security investigation into imported lumber and timber.
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