NLBMDA weighs in on tariffs
The National Lumber and Building Material Dealers Association continues to oppose a widening array of tariffs imposed on Chinese imports, including building materials.
The Office of U.S. Trade Representative is accepting comments on the latest proposal through August 17 and will hold a public hearing August 20-23. NLBMDA plans to submit comments on the latest tariff proposal ahead of the August 17 deadline.
Here is the NLBMDA’s latest statement, in its entirety, on the subject of tariffs imposed by the Trump Administration:
The Trump Administration has escalated its trade dispute with China announcing that it plans to impose a 10 percent tariff totaling $200 billion on a wide variety of Chinese goods, including some building materials such as paving blocks, wood flooring, wall coverings, and roofing slate. Ambassador Robert Lighthizer, the United States Trade Representative, announced the plan on July 10 following an escalation of the trade dispute between the U.S. and China. The tariffs are expected to take effect in September.
Earlier this month, the White House announced it was imposing a 25 percent tariff on more than 800 Chinese products that would cost $34 billion. China quickly followed suit by imposing a similar 25 percent tariff on 545 U.S. products totaling $34 billion.
President Donald Trump instructed Ambassador Lighthizer to move forward with the latest round of tariffs following the retaliatory measure by China. This week, another $16 billion in tariffs on Chinese goods is set to take effect. Adding $200 billion in new tariffs to the $50 billion already in place or set to take effect would place annual tariffs of $250 billion on Chinese goods. For perspective, the U.S. imported $505.6 billion in Chinese goods last year.
President Trump has taken an aggressive approach on trade policy. Earlier this year, the Trump Administration imposed 25 percent steel tariffs and 10 percent aluminum tariffs on products imported from most countries. Only products imported from Argentina, Australia, Brazil, and South Korea are exempt from the steel and aluminum tariffs.
The latest tariff announcement raises additional concerns that the Administration’s trade policies are undoing the economic success from last year’s tax cuts. In March, NLBMDA took a position opposing tariffs on steel imports as it increases construction costs, decreases housing affordability, and can cause an unnecessary trade war that harms consumers.
The Office of U.S. Trade Representative is accepting comments on the latest proposal through August 17 and will hold a public hearing August 20-23. NLBMDA plans to submit comments on the latest tariff proposal ahead of the August 17 deadline.
The Office of U.S. Trade Representative is accepting comments on the latest proposal through August 17 and will hold a public hearing August 20-23. NLBMDA plans to submit comments on the latest tariff proposal ahead of the August 17 deadline.
Here is the NLBMDA’s latest statement, in its entirety, on the subject of tariffs imposed by the Trump Administration:
The Trump Administration has escalated its trade dispute with China announcing that it plans to impose a 10 percent tariff totaling $200 billion on a wide variety of Chinese goods, including some building materials such as paving blocks, wood flooring, wall coverings, and roofing slate. Ambassador Robert Lighthizer, the United States Trade Representative, announced the plan on July 10 following an escalation of the trade dispute between the U.S. and China. The tariffs are expected to take effect in September.
Earlier this month, the White House announced it was imposing a 25 percent tariff on more than 800 Chinese products that would cost $34 billion. China quickly followed suit by imposing a similar 25 percent tariff on 545 U.S. products totaling $34 billion.
President Donald Trump instructed Ambassador Lighthizer to move forward with the latest round of tariffs following the retaliatory measure by China. This week, another $16 billion in tariffs on Chinese goods is set to take effect. Adding $200 billion in new tariffs to the $50 billion already in place or set to take effect would place annual tariffs of $250 billion on Chinese goods. For perspective, the U.S. imported $505.6 billion in Chinese goods last year.
President Trump has taken an aggressive approach on trade policy. Earlier this year, the Trump Administration imposed 25 percent steel tariffs and 10 percent aluminum tariffs on products imported from most countries. Only products imported from Argentina, Australia, Brazil, and South Korea are exempt from the steel and aluminum tariffs.
The latest tariff announcement raises additional concerns that the Administration’s trade policies are undoing the economic success from last year’s tax cuts. In March, NLBMDA took a position opposing tariffs on steel imports as it increases construction costs, decreases housing affordability, and can cause an unnecessary trade war that harms consumers.
The Office of U.S. Trade Representative is accepting comments on the latest proposal through August 17 and will hold a public hearing August 20-23. NLBMDA plans to submit comments on the latest tariff proposal ahead of the August 17 deadline.