The National Lumber and Building Material Dealers Association (NLBMDA) is closely monitoring the latest developments surrounding the proposed tariff strategy floated by the Trump administration. President Trump informed reporters at the White House on Thursday that he intends to follow through on his proposal to institute a 25% across-the-board tariff on all goods imported from Canada and Mexico. Minutes ago, the White House Press Secretary confirmed that the administration will be moving ahead with imposing 25% tariffs on Mexico and Canada. This announcement from the White House goes against recent reports suggesting the White House would delay the rollout of tariffs until March 1^st.

Currently, specific details regarding the President’s strategy still remain unknown. The White House is reportedly considering making certain exemptions, including a potential exemption on oil imports.

On Wednesday, President Trump’s nominee to serve as Secretary of Commerce, Howard Lutnick, testified before the Senate Commerce, Science, and Transportation Committee. During the hearing, Lutnick defended Trump’s tariff strategy, calling it an effective negotiating tactic. Earlier this month President Trump used the threat of tariffs as a negotiation tactic against Columbia who were refusing to accept deportation flights from the U.S. government.

“National Lumber and Building Material Dealers Association (NLBMDA) is actively involved in conversations with leaders in Washington to underscore the significant impacts a 25% across-the-board tariff would have on the LBM and residential construction industry," said NLBMDA President & CEO Jonathan Paine. “NLBMDA is leading discussions with our trade association partners including the National Association of Home Builders to advocate for responsible trade policies which do not negatively impact the U.S. housing industry.”

As the United States' largest trading partner, the LBM industry depends heavily on its trade partnership with Canada for softwood lumber and other building materials imports. A recent analysis by PwC estimates tariff revenues from Canadian imports would surge from $440 million to $107 billion.