[Washington, DC] - The National Lumber and Building Material Dealers Association (NLBMDA) today announced its opposition to the recently enacted tariffs on imported steel by the Trump Administration. NLBMDA opposes tariffs on steel imports as it increases construction costs, decreases housing affordability, and can cause an unnecessary trade war that harms consumers.
The U.S. Department of Commerce has imposed a 25 percent tariff on steel imported to the United States effective March 23. Steel imports from Argentina, Australia, Brazil, Canada, the European Union, Mexico, and South Korea are exempt from the tariffs. Approximately one-third of steel imports are still subject to the tariffs.
“NLBMDA opposes tariffs on steel imports,” said NLBMDA Chair Rick Lierz, President and CEO of Franklin Building Supply in Boise, Idaho. “Increasing the cost of building materials simply hurts builders and ultimately consumers.”
Tariffs on steel imports present the latest challenge for the building and construction sector. Duties between 10 percent and 24 percent are currently in effect for Canadian softwood lumber and a lack of skilled workers has made it harder to finish some construction projects.