Trump's trade policies tank homebuilder confidence in July

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Builders were initially euphoric following the November election of President Donald Trump, hoping the new administration would lift some of the heavy regulations that now account for about a quarter of the cost of putting up a new home... Now, new tariffs on Canadian lumber of up to 24 percent announced by the Trump administration in May, as well as the expectation of additional tariffs on other homebuilding materials imported from overseas, are overtaking the benefits of deregulation. The cost of framing lumber has spiked in recent months and continues to rise today, which only exacerbates already rising prices for land and skilled labor.