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In response to extreme lumber price volatility harming housing affordability throughout 2021, NAHB has repeatedly called on the Biden Administration to eliminate or reduce tariffs on Canadian lumber shipments into the United States, On January 31, the Commerce Department signaled a potential move in the right direction by issuing its third administrative review of duties on Canadian lumber shipments from 17.99% to 11.64%, NAHBNow reports. Decreased tariffs would mitigate future volatility and ease upward pressure on lumber prices, helping builders navigate an affordable housing crisis across the country.
Following the Commerce action, NAHB Chairman Chuck Fowke issued the following statement to the media:
“NAHB welcomes the Biden administration’s move to reduce duties from 17.99% to 11.64% on softwood lumber shipments from Canada into the U.S. Reducing these tariffs is an important step forward to addressing America’s growing housing affordability crisis and easing extreme price swings in the lumber market that have added more than $18,600 to the price of a new home since late summer.
“To help further address the nation’s housing affordability challenges, we encourage the Biden administration to build on today’s positive development by taking the following actions: enter into negotiations with Canada to achieve a new softwood lumber agreement that will eliminate duties; increase the domestic supply of timber from public lands in an environmentally responsible manner; and seek immediate remedies to the lumber and building materials supply chain that will increase production and lower construction costs.”
