OWASSO, Okla. — Green County Home builder Tim Martin said he's worried about a potential 25% tariff on Canadian lumber.
President Donald Trump proposed the idea in February and said it could come into effect in April 2025.
Trump said he wants to enforce the tariff because of concerns about illegal immigration and drug trafficking. However, Martin said that this added cost could have a negative impact.
Martin is the president of Oklahoma Royal Homesin Claremore. He said a potential rise in Canadian lumber prices could make operations difficult.
"The reaction is uncertainty, a little bit of anxiety," said Martin.
That was how Martin felt about Trump's proposed 25% tariffs. He said this is another hurdle in the already struggling housing market.
To find out how this could hurt the wallets of Oklahomans, 2 News reached out to Jason Walter. He's an associate professor of economics at the University of Tulsa.
"With housing prices it could be anywhere from let's say 5-15% that gets passed through along with the additional cost of aluminum and steel," said Walter.
Martin told 2 News they get most of their lumber from local suppliers. However, in rare cases, they buy from Canada, and he says a tariff like this can still affect them.
He said the uncertainty left him with questions.
"Is there going to be a trigger to lessen that tariff over time? I think right now it's uncertainty," said Martin.
2 News reached out to the United States International Trade Commission and the US Department of the Treasury but did not get a response from either agency as of March 26.
All Martin wants is a better understanding of the future with tariffs.
"We as business owners really just want clarity and confidence with what's going to happen moving forward," he said.
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