{"id":334180,"date":"2026-08-31T21:20:13","date_gmt":"2026-08-31T21:20:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/334180\/"},"modified":"2026-08-31T21:20:13","modified_gmt":"2026-08-31T21:20:13","slug":"new-york-construction-industry-could-be-hit-hardest-as-canadian-u-s-trade-war-continues","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/334180\/","title":{"rendered":"New York construction industry could be hit hardest as Canadian U.S. trade war continues"},"content":{"rendered":"

CAPITAL REGION, NY (WRGB) \u2014 Starting next week, Canadian retaliatory tariffs <\/a>are taking effect.<\/p>\n

The tariffs are up to 50% on American products.<\/p>\n

The tariffs are projected to impact $20 billion worth of American goods; materials like lumber, steel, and dairy could be the hardest hit.<\/p>\n

It could mean New Yorkers will spend even more money.<\/p>\n

We see data coming out of the Fed that shows that 90% of the costs of tariffs are passed along to, you know, U.S. businesses and consumers,\u201d said Justin Wilcox, Executive Director of Upstate United. \u201cThat’s having an impact on people’s pocketbooks at a time when they can least afford it.\u201d<\/p>\n

An industry hit the hardest by tariffs: construction.<\/p>\n

RELATED: Will the US & Canada resume negotiations amid ongoing trade war?<\/a><\/p>\n

The National Association of Home Builders predicts a $10,000 to $14,000 increase per home.<\/p>\n

\u201cIt’s going to get passed on to the buyers,\u201d said Capital Region real estate agent Rebecca Cavalieri. \u201cWith that, you know, we’re still hovering at interest rates of like 6.5%, and just that extra 10 to $15,000 is going to push some buyers out of that market, which could really slow down new construction and new developments as well.\u201d<\/p>\n

So, what to do if you\u2019re planning a renovation or home construction project that can\u2019t wait?<\/p>\n

\u201cLock in with your builder right now,\u201d added Cavaleri. \u201cMake sure they don’t have any clauses that they can increase the price of building materials because we saw a lot of that during COVID, because it was fluctuating so much with everything happening with the war. We did already see a huge jump in pricing over the spring.\u201d<\/p>\n

According to an April 2026 report<\/a> from the New York State Comptroller, Canada is the state’s most significant trading partner.<\/p>\n

In 2025, exports to Canada declined by $3.8 billion due to tariffs.<\/p>\n

\u201cThat’s not a good thing for those exporters; those increased costs. We see in Canada already a resistance to US products because we’re having this trade war,\u201d added Wilcox.<\/p>\n

Wilcox says another area that\u2019s been indirectly hit by tariffs is tourism.<\/p>\n

Hotels, restaurants, and attractions in New York have seen a decrease in Canadian tourists.<\/p>\n

In the same report, the comptroller says in 2025 the state saw a loss of over 176,000 visitors.<\/p>\n","protected":false},"excerpt":{"rendered":"CAPITAL REGION, NY (WRGB) \u2014 Starting next week, Canadian retaliatory tariffs are taking effect. The tariffs are up…\n","protected":false},"author":2,"featured_media":334181,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[9,24,55,54,56],"class_list":["post-334180","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/334180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=334180"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/334180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/334181"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=334180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=334180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=334180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}