US Housing Market Gets Tentative Good News After Trump Tariff Delay [Video]

The price of U.S. lumber has come down slightly after Donald Trump announced last week that the sweeping tariffs imposed on Canada and Mexico a couple of days before would be suspended on most goods coming from the two countries.

The modest decline is likely to draw a sigh of relief from homebuilders and housing experts concerned about the impact that heavy tariffs could have on a material that is considered of crucial importance for the construction sector.

Why It Matters

The U.S. imports about 30 percent of the softwood lumber it uses in home construction, the National Association of Home Builders (NAHB) says, because it does not produce enough domestically. This lumber comes from Canada, which produces a surplus of it.

The Trump administration wants the U.S. to expand its timber and lumber production and become less reliant on imports, framing the issue as one of national security. While efforts to increase production are yet to get underway, experts are concerned …