A new bill was introduced in the US Senate that would exclude homebuilding materials from President Trump’s tariff policy.
The Housing Tariff Exclusion Act is designed to automatically exempt many homebuilding materials from current and future tariffs. Importers would be able to apply for tariff exemptions on homebuilding materials that aren’t automatically exempted.
The bill was introduced by Sens. Jacky Rosen (D-NV) and Chris Coons (D-DE). It is co-sponsored by Sens. Lisa Blunt Rochester (D-DE), Tim Kaine (D-VA), Angela Alsobrooks (D-MD), Martin Heinrich (D-NM), and Andy Kim (D-NJ).
Several trade organizations including the National Association of Home Builders, National Housing Conference and National Lumber and Building Material Dealers Association have voiced support for the bill.
“President Trump’s tariffs are making it more expensive to build homes in America, and it’s driving up the cost of housing for everyone,” said Coons. “In a housing crisis, this is the last thing we should be doing. The Housing Tariff Exclusion Act will bring home building costs down so more Americans can afford the dream of homeownership.”
