Lumber market faces chaos as US tariffs on imports could spike costs

Donald Trump’s plan to impose sweeping tariffs on softwood lumber imports in April could plunge the US construction sector into turmoil, with significant consequences for homebuilding costs and mortgage rates. Initially targeting Canadian lumber, the proposed measures may also extend to European suppliers. Canada currently provides nearly a quarter of the lumber consumed in the US, while European imports make up a significant portion of the remainder. Across-the-board tariffs on imports could create uncertainty for both suppliers and buyers, clouding the national homebuilding outlook. Market conditions for 2025 had previously appeared relatively stable, with supply and ...