The U.S. Commerce Department is looking to increase preliminary lumber tariffs on Canadian softwood lumber shipments to the U.S. from 8.99% to 18.32%, the CBC reports.
Lumber prices have reached all-time highs over the past year.
The National Association of Home Builders condemned the proposal to raise lumber tariffs.
"This action clearly shows the White House is disingenuous when it claims the nation's housing affordability crisis must be an important priority,” NAHB stated.
Jason Brochu, co-chair of the U.S. Lumber Coalition, praised the move to increase tariffs, referring to Canadian lumber imports as “subsidized and unfairly traded,” according to the CBC.
According to an analysis by NAHB, the skyrocketing cost of lumber has added nearly $36,000 to the price of a new home.
