A leading U.S. trade group for home builders and allied industries
Canada has matched the United States’ 50% tariffs on a broad range of goods, escalating a tense trade war. Ottawa says it will apply counter-tariffs across sectors including steel, dairy, appliances and electronics, while promising support for affected businesses as talks stall. The row centers on autos, housing materials and consumer items, with markets reacting to the broader clash over sovereignty and trade rules.
The United States has imposed 50% tariffs on roughly $20bn of Canadian goods and Canada has announced dollar‑for‑dollar retaliation, naming more than 700 U.S. products for 15%, 25% or 50% duties from Sept. 8. The moves have hit metals, autos, food and household goods and are pushing costs for manufacturers and consumers on both sides of the border.
A mix of mortgage rates remaining elevated and inventory growth is shaping US and UK housing markets. Cash sales have cooled, financed buyers are gaining ground, and prices show modest changes in several markets. Analysts warn of continued affordability challenges and potential further rate-related pressure.
The United States has imposed 50% tariffs on about C$28bn ($20bn) of Canadian goods and Canada has announced dollar-for-dollar retaliatory tariffs on roughly C$27.6bn of US imports, set to take effect 8 September; Ottawa has also pledged C$7.5bn in support for affected businesses. The dispute has disrupted integrated supply chains, hit manufacturing and raised costs on both sides of the border.
The United States has reached a historic debt level, driven by Iran tensions and tariffs. Higher debt issuance is lifting bond yields, pushing mortgage rates higher and increasing monthly payments. Homebuyers face a slower market as rates stay elevated amid near-record home prices, while employment remains strong and demand could rebound if rates ease.
Housing data shows September weakness across sales, starts and sentiment as higher mortgage rates and inflation bite. Pending sales fell to record lows, starts dropped, and builder confidence sunk, signaling a tougher 2027 for housing and construction.