President Donald Trump has announced multiple tariffs since taking office in January. Here’s the latest on where China, Canada and Mexico stand with the impending and active tariffs.
China
As of Feb. 4, President Trump implemented a 10% tariff on all imports from China. Some of the top U.S. imports from China include cell phones, computers, electric and industrial equipment and appliances and furniture among other products, according to the Associated Press.
China retaliated by implementing a 15% tariff on coal and liquefied natural gas products, as well as a 10% tariff on crude oil, agricultural machinery and large-engine cars imported from the U.S. These counter-tariffs take effect Feb. 10.
Canada and Mexico
President Trump announced that goods from Mexico will face a 25% tariff. Goods from Canada will also face a 25% tariff, excluding Canadian energy products including oil, natural gas and electricity, which will be taxed at a 10% rate, according to Reuters. These levies were expected to take effect on Feb. 4, but after President Trump met with both Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau, the implementation of the tariffs are paused for 30 days.
The Canada and Mexico tariffs could have a direct impact on the home improvement industry. According to the National Association of Home Builders (NAHB), of the $8.5 billion worth of sawmill and wood products imported in 2023, nearly 70% of these imports came from Canada. These imports were already taxed with a 14.5% antidumping and countervailing duty, and with the additional 25% tariff, these goods from Canada could be taxed 40%.
The NAHB also reports that the U.S. imported $456 million worth of lime and gypsum products in 2023, with 71% of these products originating from Mexico.
Carl Harris, chairman of NAHB and a custom homebuilder from Wichita, Kansas, issued a statement after the announcement of the delay of the proposed tariffs on products from Canada and Mexico.
“We commend President Trump for reaching an agreement with Canada and Mexico to delay the proposed tariffs, avoiding additional strain on a housing market already facing affordability challenges. Stability and certainty are essential for American businesses, consumers and the strength of our economy,” Harris says. “We urge all parties to remain committed to productive dialogue to prevent new tariffs on construction materials critical to housing our nation.”