Concern over new tariffs could raise local lumber prices [Video]

MOBILE, Ala. (WALA) – A local lumber business owner shared how new increased tariffs on imported goods from Canada could affect prices and the housing market.

This comes after an executive order issued by President Trump on tariffs.

Although the executive order has been temporarily delayed for 30 days, it would impose new tariffs on imports on one of the world’s largest lumber providers.

For those buying lumber or considering homebuilding projects in the future, a 25% tariff on goods from Canada could eventually mean a rise in prices.

Owner of Mobile Lumber and Millwork Jim Henderson said if the proposed tariffs go through, he’s expecting challenges.

“We’re gonna be greatly affected,” he said. “It will cut our business in half.”

Henderson said not only could this affect the lumber industry, but he believes the housing market will also take a hit.

“If you take on another 25% to the price of …