There are two main ingredients in cost of building housing: labor and materials. Here in New England especially — where builders have long wrestled with the cost of construction — the 25 percent tariff on Canadian imports instituted this week by President Donald Trump will make the latter even more expensive.
The industry was already struggling with rising costs, market saturation, and declining demand, and the constant sense of uncertainty over tariffs only adds to the stress.
TORONTO (AP) — Canadian Prime Minister Justin Trudeau is not willing to lift Canada’s retaliatory tariffs if Trump leaves any tariffs on Canada, a senior government official told The Associated Press. The official confirmed the stance on condition of anonymity as they were not authorized to speak publicly on the matter.
Businesses and consumers across New England rely heavily on Canadian imports, raising fears about the trickle down costs of President Trump’s imposition of a 25% tariff. In Massachusetts, Canadian imports were valued at around $10.