Tariffs And Their Affects On Housing
The United States Trade Representative’s third wave of tariffs on Chinese imports comprises 5,745 items, with approximately 450 that are commonly used in the residential construction industry. In order to understand the economic effects the proposed 10% tariff would have, the NAHB economics department published a special study estimating the tax increase. The value of the 450 building materials is roughly $10 billion. With the 10% tariff, the housing industry could see a $1 billion tax increase.