Donald Trump had campaigned on a promise to impose higher tariffs on imported goods, a proposal that has sparked widespread controversy. Many critics argue that it could lead to higher commodity prices and intensify inflationary pressures.

Tariff policy and related statements

Tariffs are taxes and fees that must be paid on imported goods and are usually borne by the importer, but the final cost is often passed on to consumers through prices. During his campaign, Trump said that high tariffs were a key means of boosting U.S. manufacturing and reducing job outflows. He proposed tariffs of up to 60 percent on Chinese goods and rates of 10 to 20 percent on other imports.

Recently, Trump nominated Wall Street executive Howard Lutnick as Commerce Secretary, making it clear that he will lead U.S. tariff and trade policy. However, the implementation details of the tariff program are still unclear, such as the rates for different countries, the implementation timeline, and the categories of exempted goods, which will have a direct impact on new home prices and the direction of the homebuilding industry.