From Top Electric.

U.S.-Canada trade tensions escalated as President Trump imposed a 25% tariff on Canadian softwood lumber, reigniting a decades-long lumber war. This move, alongside a 10% tariff on Canadian oil and energy goods, pushed total duties near 40% by July, following a 20.56% anti-dumping rate set by the U.S. Department of Commerce. The tariffs aim to protect U.S. mills from subsidized Canadian competition but have triggered swift economic fallout. Weyerhaeuser, a U.S. timber giant, reported a 50% profit drop in Q2 2025, citing weak demand and tariff uncertainty, with a further $60 million profit decline expected in Q3. The U.S. housing market is reeling, with single-family home sales plunging and tariffs potentially adding $14,000 to new home costs by 2027. Canada is countering strategically, leveraging its $1 trillion pension stake in the U.S. and considering lumber export quotas while redirecting exports to Europe and Asia. The Trump administration is pushing a domestic timber revival, increasing federal harvest quotas by 25%, but experts warn this will add less than 1% to supply. As the August 1 deadline looms, bipartisan U.S. senators seek a USMCA-backed solution, but legal and environmental challenges threaten progress. This high-stakes clash of politics and production will shape North American trade and construction, with rising costs and market uncertainty impacting industries and consumers alike.

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