Homebuilding in Canada will slow under U.S. tariffs, builders association says [Video]

Canada’s building industry is warning that a trade war with the United States will slow down the pace of home construction.

Canadian Home Builders’ Association CEO Kevin Lee said in Ottawa on Tuesday that the U.S. tariffs on Canada will have a “muted” impact on the industry on their own.

But he said an expected slowdown in the economy tied to tariff impacts could hold the national housing market back, dragging down housing starts.

Lee said that, after weeks of President Donald Trump threatening to impose tariffs on Canadian exports, consumer confidence is already taking a hit.

He said fears about job insecurity tied to tariffs are likely filtering into the housing market, chilling investment demand and limiting hopes for a rebound this spring.

“We still have a bit of a slow market despite the fact that interest rates are coming down and we would expect that’ll continue to worsen …