This June, the Commerce Department imposed an anti-dumping duty on Canadian Lumber imports on top of an already high tariff announced earlier in the year. In total, both taxes sum up to a 27% price increase on imported Canadian lumber.
Although this tariff is causing homebuilders to feel uneasy, the National Association of Home Builders (NAHB) is working on a few solutions that will mitigate the effects. First, the NAHB is urging US lumber companies to increase production as well as contacting other countries for new supplies. This will allow lumber to be bought at a much lower cost. Second, the organization is promoting free trade, which will enable a steady stream of lumber without the impulsive price hikes.