Imports Make up 7% of U.S. Construction Materials

Dec 16, 2024 | Markets | 0 comments

USA – In 2023, the U.S. residential construction sector imported USD 13 billion in materials, representing 7% of the USD 184 billion spent on materials for new single-family and multifamily housing, according to the National Association of Home Builders (NAHB).

The data, sourced from BEA input-output accounts and adjusted to 2023 values, underscores the key role of international trade in construction supply chains. China accounted for 27% of these imports, followed by Mexico at 11%, and Canada at 8%, with the remaining 27% coming from other countries.

Proposed tariff increases, including a 10%-20% general tariff and a 60% tariff on Chinese imports, are projected to raise the annual cost of imported building materials by USD 3.2 billion.

This would notably impact items like household appliances, 54% of which are imported from China, adding USD 670 million in costs. At a 20% general tariff and 60% on Chinese imports, the additional annual cost could climb to USD 4.2 billion.

Canada remains a crucial supplier of wood-related products, providing 70% of sawmill and wood imports, valued at USD 5.8 billion in 2023, with these already subject to a 14.5% tariff.

Nonferrous metals from Canada topped the import list at USD 17.6 billion. Mexico’s main contributions include lime and gypsum products, accounting for 71% of imports worth USD 456 million, alongside USD 28.6 billion in computer equipment.

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