Donald Trump’s customs tariffs against Canada mean that the cost of building a house in the United States could increase by US $ 14,000 ($ 19,000 Canadian) by the end of 2027, according to a report from the Canada Chamber of Commerce.
Given that 69% of wood imports, 25% of iron and steel imports as well as 18% of copper imports to the United States came from Canada in 2023, the impact of customs duties will soon be felt, according to the document cited by CNN.
Canada is the third source of importation of materials used to build a house behind China and Mexico, reports the National Association of Home Builders in the United States.
These two countries are also the subject of customs tariffs which could potentially have the bill climb even more.
Not all construction projects use imported materials.
According to the report of the Canada Chamber of Commerce, Texas, Florida and California are among the states most affected by the consequences of customs tariffs.
Joined by CNN, the White House maintains that the Americans will not suffer the counterpouss of Donald Trump’s pricing policy.
“The administration has constantly maintained that the cost of prices will not be attributed to American consumers, but to foreign exporters who depend on access to the American market,” said spokesman Kush Desai.
Price tensions between Canada and the United States have increased in recent weeks with the new threat of the American president to impose prices of 35% from August 1 on all the products which are not on the free trade agreement that binds the two countries.
These customs duties are added to those already in place on steel, aluminum and timber as well as 50% from the copper that the president threatens to soon put in place.
