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This morning, Donald Trump was sworn in as the 47th President of the United States of American, and the world is closely watching the implications of his leadership. Trump’s re-election marks a significant shift in U.S. politics. Within minutes of his swearing in, the President has already started rolling out a barrage of 100 executive orders on Day One, covering a wide rage of issues, including (but not limited to) immigration, energy, climate change, tariffs, birthright citizenship, and reversing many of President Biden’s bans and initiatives. For months, there have been numerous statements by Trump, declaring protectionist actions, including the implementation of 25% tariffs on all goods exported to the States. The Canadian government has been clear that if the U.S. proceeds with this tariff, there will be retaliation. Although it seems Trump is holding off on the implementation for today, federal and provincial leaders are taking the threat seriously and meeting to discuss possible countermeasures. The impact of these policies could be felt particularly in the construction and homebuilding sectors, where cross-border trade is integral to supplying materials like lumber, steel, and other construction essentials. Any trade restrictions, duties, or tariffs that emerge could lead to price hikes, delays in material delivery, and ultimately, increased project costs which would be challenging for an already strained housing market struggling with affordability. A recent report from the Business Council of BC (BCBC) underscores the importance of the U.S. as B.C.’s largest trading partner. According to Jairo Yunis, BCBC Director of Policy and author of the report, “The U.S. is B.C.’s largest trading partner, and any disruption in our trading relationship would reverberate through our economy.” Key points from the report include:
Yunis also commented in the report – which that has been echoed by many Canadian government and policy leaders – that “Trade, however, is a two-way street. American consumers and businesses would also face impacts from new tariffs — a critical point we must continue to emphasize.” With this in mind, it is an important reminder that as a HAVAN member, you are part of a strong three-tiered association with local, provincial and national representation and connection to all levels of government. At the federal level, CHBA CEO Kevin Lee and staff are actively connected to all federal parties, working in concert with association and industry leaders from across the country to advocate on behalf of the homebuilding industry. It is interesting to note that today’s inauguration coincides – almost ironically — with Martin Luther King Jr. Day in the U.S., a time for reflecting on civil rights and equality. President Trump has been very intentional with his policies, and they clearly speak to his – and his supporters’ – views on diversity, inclusion, and immigration. Canadians – and even our own local homebuilding industry — operate and thrive within a society that embraces diversity, inclusion, equality and collaboration. As we face the potential impacts of these global and national shifts, it’s important to continue advocating for policies that support these values and foster a fair, respectful, and forward-thinking approach to the economy, industry and the broader community. |
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CHBA BC ANNOUNCE GEORGIE FINALISTS The Canadian Home Builders’ Association of British Columbia (CHBA BC) has announced the finalists of its 33rd annual Georgie Awards, which feature 53 categories grouped in six focus areas: Residential Construction – New; Residential Construction – Renovation; Interior Design, Merchandising and Landscaping; Sales and Marketing; Special Achievement Awards; and the Grand Georgie Awards. Congratulations to all the finalists, especially the HAVAN members who are vying for the Gold! Check out the full list of finalists. HAVAN continues to work with CHBA BC and CHBA to advocate for all levels of government to work together to address the challenges of the housing industry including zoning restrictions, density limits, and NIMBYism. Looking to stay up-to-date on Metro Vancouver’s residential housing industry? Sign up for Wendy’s weekly Monday Morning Briefing and other HAVAN emails here. QUICK BITES … |
