In case you’re not keeping track, Donald Trump is not exactly making America great again. In fact, by wanting to place a new tariff on Canadian lumber, “the NAHB estimates the new duty will increase the price of an average single-family home by $1,236.”
According to CNBC:
“The Trump administration argues that government subsidies for Canadian lumber are unfair.”
However, Trump’s isolationist ideals are going to cost hard-working Americans a lot of money over the long haul.
“A new duty imposed by the U.S. Commerce Department on Canadian softwood lumber is designed to level the playing field between Canadian and U.S. lumber producers, and just the anticipation of it has pushed lumber prices higher by about 22 percent since the start of this year.
The Trump administration argues that government subsidies for Canadian lumber are unfair. It’s great for U.S. lumber producers, not so great for U.S. homebuilders, who inevitably pay the price.”
If the cost of lumber goes up, the cost of building homes go up, and subsequently that cost get passed along to the homebuyer who are ordinary hard-working Americans just trying to get by and find a place to live.
NAHB Chairman Granger MacDonald, a homebuilder and developer from Kerrville, Texas, says:
“NAHB is deeply disappointed in this short-sighted action by the U.S. Department of Commerce that will ultimately do nothing to resolve issues causing the U.S.-Canadian lumber trade dispute but will negatively harm American consumers and housing affordability.”
This, most definitely, is not making America great again. If Trump actually wanted to help hard-working Americans, he would find a way to make buying a home easier. The more money consumers have in their pockets, the more they have to spend and the more business thrives.
Economies grow from the middle out, not the top down, and Trump is proving how absolutely clueless he is yet again.
Watch here via CNBC:
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