Sens. Thune, Menendez Urge Administration to Act on Lumber Tariffs
With the strong support of NAHB, Sens. John Thune (R-S.D.) and Bob Menendez (D-N.J.) on July 18 sent a letter to U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai urging the Biden administration to prioritize lumber trade to reduce housing costs.
“The sharp increase in softwood lumber prices, on top of high inflation and supply chain challenges, has only further added to residential construction costs,” the senators wrote.
In January 2022, the Department of Commerce issued a preliminary determination to reduce tariffs on softwood lumber shipments from Canada to the United States from 17.99% to 11.64% but the tariff reductions have yet to be implemented.
Thune and Menendez urged Raimondo to move swiftly to implement the tariff reductions "to make home construction and homeownership more affordable for communities across our country."
The lawmakers also encouraged the administration to prioritize a new softwood lumber agreement between the United States and Canada to “provide greater market stability for the U.S. housing industry and ease the burden of housing costs for all Americans.”
“NAHB commends Sens. Thune and Menendez for making lumber tariff relief a top priority to alleviate unprecedented lumber price volatility that has added more than $14,000 to the price of a new home since the start of the pandemic,” said NAHB Chairman Jerry Konter. “We continue to work with federal policymakers on the lumber front and to encourage the administration to negotiate a new softwood lumber agreement with Canada that will eliminate tariffs and help ease the nation’s housing affordability crisis.”
View the Thune-Menendez letter to Secretary Raimondo and Ambassador Tai.
Latest from NAHBNow
Aug 21, 2025
New and Existing Homes Remain Largely Unaffordable in Second QuarterWhile new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the NAHB/Wells Fargo Cost of Housing Index (CHI). The CHI results from the second quarter of 2025 show that a family earning the nation’s median income of $104,200 needed 36% of its income to cover the mortgage payment on a median-priced new home. Low-income families, defined as those earning only 50% of median income, would have to spend 71% of their earnings to pay for the same new home.
Aug 20, 2025
Custom Home Building Grows as Broader Housing Market StrugglesAn analysis of census data by NAHB economists shows that custom home building grew 4% in the second quarter of 2025 as high interest rates and home prices suppress demand for traditional spec home production.
Latest Economic News
Aug 21, 2025
Existing Home Sales Rise in JulyExisting home sales rebounded in July as mortgage rates retreated from the recent peak and home price growth slowed, according to the National Association of Realtors (NAR).
Aug 21, 2025
New and Existing Homes Remain Largely Unaffordable in Second QuarterWhile new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI).
Aug 20, 2025
Retreat for Single-Family Built-for-Rent HousingSingle-family built-for-rent construction fell back in the second quarter, as a higher cost of financing crowded out development activity.