Canadian lumber hit with new 10% Trump tariff, sector calls it ‘misguided’
Global News
AI Article Summary
A new 10% tariff on Canadian lumber has been announced, scheduled to take effect on October 14. Additionally, tariffs on kitchen cabinets and vanities, currently at 25%, will increase to 50% on January 1 unless a resolution is reached. This move has been described by industry sources as 'misguided', reflecting concerns over trade relations and costs.
What This Means for Canadian Contractors
For Canadian builders, this means anticipating cost increases and potential project delays. The raised tariffs will impact the cost of materials, increasing expenses for residential and commercial projects. Contractors may need to adjust budgets and seek alternative suppliers to mitigate the effects of this policy change.
