Jerry Konter, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Savannah, Ga., issued the following statement after Reuters reported that Treasury Secretary Janet Yellen said the Biden administration will not cut tariffs on Canadian lumber to fight inflation:
“NAHB is extremely disappointed that the Biden administration is turning a blind eye to America’s housing affordability crisis by refusing to eliminate tariffs on Canadian lumber at the same time it is considering rescinding tariffs on a wide range of Chinese goods to curb inflation. Tariffs act as a tax on American consumers and the lumber tariff is particularly onerous, given that it has contributed to unprecedented lumber price volatility that has sharply raised the cost of housing at a time when housing affordability is already at a more than 10-year low.
“Lumber tariffs affect millions of American home buyers and home owners. If the administration is truly interested in providing U.S. citizens relief from high inflation by removing costly tariffs, it should ensure that Canadian lumber is among the tariffs it targets for elimination.”