National

U.S. tariffs set to slow pace of homebuilding in Canada: CHBA

Darpan News Desk The Canadian Press, 04 Mar, 2025 10:55 AM

Canada's building industry says a trade war with the United States will slow down the pace of home construction.

Canadian Home Builders' Association CEO Kevin Lee says the U.S. tariffs levied against Canada today will have a "muted" impact on the industry on their own.

But he says an expected slowdown in the economy tied to tariff impacts could hold the housing market back, dragging down housing starts.

Today, CHBA CEO Kevin Lee spoke to reporters on Parliament Hill about the release of CHBA's #MunicipalBenchmarkingStudy, underscoring that policy change is needed to ramp up housing supply & address #housingaffordability challenges.

Watch 🎥 https://t.co/968y1iFKuq #cdnpoli
— CHBA National (@CHBANational) March 4, 2025

Canada has responded to U.S. President Donald Trump's trade salvos with retaliatory tariffs targeting $30 billion worth of U.S. goods, with billions more in counter-tariffs set to follow in three weeks.

Lee says that if these retaliatory tariffs hit critical construction materials coming from the U.S., they could drive up costs for builders.

He says municipalities can help offset the slowdown by speeding up approval processes and lowering development charges to get new homes built.

Prev Next

MORE National ARTICLES

Trump's 'strategy' is to create economic uncertainty in other countries: Freeland

Finance Minister Chrystia Freeland says with Donald Trump as president, the United States has an open strategy of creating economic uncertainty in other countries to discourage investment outside U.S. borders. Freeland says the incoming Trump administration is proudly economic nationalist and Ottawa is realistic in recognizing that's the case.

Trump's 'strategy' is to create economic uncertainty in other countries: Freeland

Alberta urges Calgary city council to approve province's Green Line transit proposal

The province contracted consulting firm AECOM in July to find alternatives to the city's latest proposal, which would have involved a tunnel through downtown and run a drastically shorter distance than previously planned.

Alberta urges Calgary city council to approve province's Green Line transit proposal

Scam targeting the elderly in Vancouver

Police in Vancouver are warning seniors about a new bank card scam that resulted in about 40-thousand dollars in combined losses for two victims this month. They say fraudsters called the victims from a phone number that appeared to be a legitimate financial institution, claiming that there had been irregular activity on their accounts.

Scam targeting the elderly in Vancouver

B.C. NDP government, Greens reach 'shared priorities' agreement

Eby's party won a bare majority with 47 seats in the October provincial election, while two Greens were elected and the B.C. Conservatives have 44 seats. The premier's statement says the NDP and Greens will work together on health care, affordable housing, creating livable communities and growing a strong, sustainable economy.

B.C. NDP government, Greens reach 'shared priorities' agreement

Former B.C. New Democrat member of the legislature Dan Coulter dead at 49

The party says Coulter "always championed the underdog," citing his work in the legislature after his election in Chilliwack in 2020, his former role of chair of the Chilliwack school board and as the Parliamentary secretary for accessibility and minister of state for infrastructure and transit.

Former B.C. New Democrat member of the legislature Dan Coulter dead at 49

Woman who preyed on Chinese students fined $3.3 million by BC Securities Commission

A woman who used "high-pressure tactics and predatory conduct" on Chinese students has been fined $3.3 million by the BC Securities Commission. The commission says in a statement that a panel ordered Meiyun Zhang to pay an administrative penalty of $2.5 million and more than $790,000 in the traceable cash she's alleged to have obtained through fraud.