Deal Reached on USMCA Trade Pact
From NAHBNow
In a step forward to address the nation’s growing housing affordability crisis, the White House and House Democrats have agreed on a deal to advance the U.S.-Mexico-Canada Agreement (USMCA). Congress is expected to act quickly to ratify the trade pact.
Trade policy affects housing costs and the USMCA has important implications for the home building industry.
The U.S. residential construction and remodeling industries rely on tens of billions of dollars in building materials sourced from Mexico and Canada annually because America cannot produce enough softwood lumber, steel, aluminum and other materials and equipment to meet the needs of the domestic housing industry. The price volatility of these imported materials and equipment are needlessly driving up housing costs and exacerbating the nation’s housing affordability woes.