President Trump on April 2 announced he will impose a 10% baseline tariff on all of America’s trading partners, with the exception of Canada and Mexico, and elevated tariff rates on dozens of nations that will run as high as 50%. For example, the White House says South Korea charges an average tariff rate of 50% on U.S. goods and the U.S. will now charge a discounted reciprocal tariff rate of 25% on South Korean products entering the country. The tariff exceptions for Canada and Mexico amount to a major win for NAHB, as Canada accounts for roughly 85% of all U.S. softwood lumber imports and accounts for nearly a quarter of the available supply in the U.S. Further exempting Mexican products is also a big win given major construction cost drivers such as gypsum, concrete and near-shored appliances. In an official statement to the media, NAHB Chairman Buddy Hughes said: “While the complexity of these reciprocal tariffs makes it hard to estimate the overall impact on housing, they will ...
The Arkansas Home Builders Association is a partnership of professional builders and related industries benefiting our members, the buying public and communities through education, legislative initiative and regulatory compliance to build quality, energy efficient and affordable housing for the families of Arkansas.