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lumber cost increasesCNBC
•Business
Business & Economics
73% Informative
Lumber, gypsum for drywall and home appliances are expected to be impacted by tariffs on Canada , Mexico and China .
The new tariffs could increase builder costs anywhere from $ 7,500 to $ 10,000 per home.
Roughly a third of the lumber used in U.S. homebuilding comes from Canada .
The majority of drywall, or gypsum, used in commercial and residential construction is imported from other countries.
In 2023 , the U.S. imported $215 million in gypsums, becoming the largest importer of the product in the world.
The tariffs come at a time when the US . housing market is already under pressure.
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