For anyone wondering how much Donald Trump’s plan for extended tariffs could affect the construction industry, Wisconsin homebuilder David Belman told Bloomberg that a typical house could jump $29,000 in price.
He estimated that $14,000 of that amount would be due to the higher price of Canadian softwood, a critical item in framing and construction. Tariffs on Mexico could increase the cost of imported gypsum used in drywall. More than 70% of softwood and gypsum imports come from Canada and Mexico, according to the National Association of Home Builders.
The 25% on Canada would be on top of the 14.5% duty already on softwood for a total of about 43%. The extra 10% on China on top of existing tariffs would mean more expensive imported assemblies like countertops, doors, and appliances.
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