Proposed lumber tariff could hike price [Video]

STILL IN THE RED. SO HERE’S AN OVERVIEW OF THE TARIFF ANNOUNCEMENTS THE PRESIDENT MADE TODAY. PRESIDENT TRUMP SAYS HE WILL DOUBLE THE TARIFFS PLAN FOR CANADIAN ALUMINUM AND STEEL. THIS WOULD BRING THE TARIFF TO 50% IN TURN, CANADA’S INCOMING PRIME MINISTER SAYS HE’LL KEEP THE COUNTRY’S TARIFFS IN PLACE UNTIL, QUOTE, AMERICANS SHOW RESPECT AND COMMIT TO FREE TRADE. PRESIDENT TRUMP HAS ALSO THREATENED TO PLACE TARIFFS ON CANADIAN LUMBER. THE PROPOSED TARIFF ON CANADIAN LUMBER HAS HOMEBUILDERS HERE IN KANSAS CITY WORRIED. WE’RE GETTING ANSWERS ON THE IMPACT IT COULD HAVE. ABOUT 30% OF THE LUMBER USED IN HOMES IN THE U.S. COMES FROM CANADA. KANSAS CITY’S HOMEBUILDERS ASSOCIATION SAYS A TARIFF ON THAT LUMBER WOULD CERTAINLY IMPACT THE MARKET HERE. HOWEVER, OUR MARKET HAS BEEN CHRONICALLY UNDERBUILT FOR THE PAST DECADE, WHICH WILL HELP KEEP DEMAND HIGH. I WILL SAY, THOUGH, HOWEVER, THAT GIVEN THE FACT …