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How Trump tariffs could impact cost of groceries, new homes in North Texas
CBS News writes:
“President Donald Trump’s escalating trade war could impact the housing market in Texas, according to economists and industry experts.
He announced plans Tuesday to double tariffs on steel and aluminum imports from Canada in retaliation for Ontario putting a surcharge on electricity coming into the U.S. Trump later backed off that plan, Commerce Secretary Howard Lutnick told CBS News, after Lutnick and Ontario Premier Doug Ford announced Canada would suspend its new 25% surcharge on electricity exports.
Lutnick, asked by CBS News in an interview Tuesday if the president plans to go through with the 50% tariffs, replied, “No, that’s off, too. So, we’re at 25% for steel and aluminum because that’s where we were.”
The tariffs are expected to raise prices on new homes.
Steel and aluminum are essential construction materials for building new homes, and Canada is the top source of steel and aluminum sent to the U.S. An increased tariff means American companies will not pay more to bring those products in and will likely pass the added costs on to homebuyers”
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cbsnews.com
How Trump tariffs could impact cost of groceries, new homes in North Texas
President Trump's escalating trade war could impact the housing market in Texas, according to economists and industry experts.
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