With the price of lumber soaring, the Biden Administration’s new proposal to double lumber tariffs on Canadian shipments could worsen the situation.
The recently announced plan by the U.S. Commerce Department to increase the levy from 9% to 18.32% drew sharp criticism from the National Association of Home Builders. An NAHB official accused the administration of being disingenuous when it claims addressing the housing affordability crisis is an important priority.
Before last December, the tariffs were 20%. The U.S. reduced tariffs on Canadian softwood lumber imports to 9% in December. Canada is the nation's largest trading partner for softwood lumber.
Meanwhile, demand for lumber and steel continues to outpace supply. Some experts are advising builders to stockpile lumber and steel if possible, and to avoid locking in any long- or medium-term prices at current levels.
Related Stories
Codes and Standards | Jun 10, 2019
Intl. Code Council releases Natural Disaster Preparedness Guide
Provides tips for staying safe during and after a hurricane or severe weather.
Codes and Standards | Jun 7, 2019
Market conditions indicate slower growth in industrial real estate sector
E-commerce, market oversupply, rising interest rates to dampen hot market.
Codes and Standards | Jun 3, 2019
Haskell invests in BLOX, creator of modular-based delivery method
‘Represents important part of Haskell’s future strategy,’ says CEO.
Codes and Standards | Jun 3, 2019
Florida may eliminate certificate of need requirement for new hospitals
Bill could boost specialized facilities.
Codes and Standards | May 31, 2019
RELi 2.0 standard for sustainability, resilience being piloted
Will be open to LEED-registered or -certified projects, with introductory pricing and support.
Codes and Standards | May 31, 2019
Pankow Foundation releases report, tools for embodied carbon impacts
Focus is on MEP and tenant improvements.
Codes and Standards | May 24, 2019
USGBC receives funding for LEED for Cities and Communities Program
Bank of America provides $500,000 grant to certify 15 U.S. cities.
Codes and Standards | May 24, 2019
AIA updates Interiors Contract Documents
Six revised documents available for interior construction projects.
Codes and Standards | May 23, 2019
Northern California casino offers a template for resilient microgrids
Solar power with batteries and backup generators provide weeks of self-reliance.
Codes and Standards | May 23, 2019
Austin creates innovative plan to boost affordable housing
Approach includes loosened zoning, incentives for higher density in lower-cost and mixed-income developments.
