Trump also said that he will “increase” rates in the rates of the Canadian car export, which he paused until 2 April last week after consultation with American manufacturers.
The president mentioned a number of actions that Canada has to take to prevent additional rates, including removing what he said is a triple figures rate for American dairy versions. According to Trump, the only thing that makes sense “is that Canada is part of the US
CNN reported that because of the way in which dairy rates are structured among the United States-Mexico-Canada agreement (USMCA), the NAFTA replacement that Trump implemented in July 2020, Canada has no rate for American dairy products.
Trump’s escalating trade war has been a headache for home builders who are clarity and consistency looking for the planned rates of the president of building materials.
The back and forth with Canada started seriously when Trump endangered a 25% rate in the Canadian and Mexican import after following his second term. But he paved these tasks for a month in exchange for small concessions on immigration enforcement and fentanyl trade.
After the break of one month ended on March 4, Trump allowed them to take effect. But two days later he announced a one -month break about the Canadian and Mexican import that falls under the USMCA, allowing his own trade agreement to take priority over his changing rhetoric.
While he signed an executive order in which it was called for an increased production of wood in the US, Trump also focused directly on the import of wood from Canada. Last week he drove a mutual rate on Canadian wood that would have the American rate on the American wood of Canada.
The US currently has a rate of 14.5% on the Canadian wood. Canada has no rate for American wood, so Trump’s mutual rate would effectively remove the American rate on Canada.
The various breaks and deadlines of Trump made a critical day for the US economy from 2 April, which was awakened by the chaotic and ever -changing approach to the president of trade policy.
The break about Canadian and Mexican tasks that do not fall under the USMCA is on that date. The global mutual rates of Trump and the car rates are also planned to start on 2 April.
The tariff threats for the Canadian wood are particularly problematic for housing builders. According to data from John Burns Research & Consulting (JBREC), 73% of wood imports from Canada and JBREC warns that rates can also increase the loan costs for housing builders.
The National Association of Homebuilders (NAHB) has made no secret of his opposition against rates on building materials. The Trump administration trade group asked the Trump administration for an exemption from building materials and warned that Trump’s trade policy is contrary to his daily executive order in which is called for an emergency house prize.
Builders cause unrest about the trade war, when the NAHB/Wells Fargo Housing Market Index (HMI) For February, five points fell compared to January.
Economists are concerned that only the tariff threats can speed up inflation, because companies have little clarity in the policy and will increase their prices to be safe. The NAHB estimated that the Canadian wood rates can cause tasks to approach 60%, and builders bake an extra $ 7,500 to $ 10,000 extra for the costs to build a house.
On Tuesday Social Media PostTrump called Canada an “insulting threat” and “Anti-American farmer”, but added that he would allow the Canadian national anthem to play if Canada joins the US
