US – China Phase 1 Trade Deal Offers No Relief for Homebuilders
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U.S.-China trade deal gives no relief to homebuilders
U.S.-China trade deal gives no relief to homebuilders
Phase 1 of the US – China trade deal is scheduled to be signed on Wednesday January 15th. However, home builders and their pro dealer suppliers hoping for some tariff relief are going to be disappointed, at least with Phase 1. The 25% tariff on the so-called List 3 items, which is full of construction materials will remain in place. According to the National Association of Home Builders (NAHB), the tariffs, which are paid by the importer of record, amount to a “$2.5 billion tax on the industry.” The List 3 items include asphalt, used in the manufacturing of roof shingles, gypsum used in manufacturing drywall, cement and quicklime, which is an ingredient in cement. Also, on the list medium-density fiber board (MDF) used in the manufacturing of furniture and kitchen cabinets. Screws, nuts, bolts, washers, circular saw blades, vinyl tile flooring are also on the list where the tariffs remain in place
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