Another day, another Republican group experiencing FAFO with regards to Trump. One of the lastest victims of their own stupidity and greed is the National Association of Home Builders (NAHB). Seems they took Trump at his word that he wanted to make homes more affordable and increase the number of homes in the U.S. Unfortunately, they are scrambling to get an exemption from Trump’s latest steel tariffs, and Trump has said, “No Dice!”
Well, not until they pony up a bribe to Trump that is.
Anyway, here is what the BBC reported today:
The construction industry as a sector is one of the single biggest users of steel, which developers and homebuilders need for everything from building frames to appliances.
Carl Harris, chairman of the National Association of Home Builders, said the decision to impose tariffs on steel and aluminium ran "totally counter" to Trump's stated goal of making housing more affordable, warning it would raise costs and deter development and rebuilding.
"Ultimately, consumers will pay for these tariffs in the form of higher home prices," he warned.
Seems that there are not enough steel mills in the U.S. to supply all the steel necessary for many other industries. It’s one reason why the U.S. imports steel from Canada, Mexico, and Brazil. And American businesses that rely upon those steel imports will pass the cost along to American consumers.
I’ll get into some of those other metal items and the costs in a bit, but let’s stay with our friends from the NAHB. Seems that the NAHB used to give about equal donations to both political parties here in the U.S., but as time went on, NAHB has been giving a lot more to Republicans than Democrats. If I read the graph correctly from Open Secrets, the last several years has seen a ratio of about 3:1 in donations to Republicans.
So yeah, cry me a river NAHB.
Now, we are all going to suffer a hit from Trump’s latest steel and aluminum tariffs. And I don’t mean when buying a home or car. The BBC reports that most canned food items in your grocery store rely upon imported steel and aluminum sources (up to 70%). And the Can Manufacturers Institute has stated that can manufacturers will pass the cost along to consumers for the tariffs.
I don’t know about you all, but I buy a number of canned items at my grocery. In fact, I have to because my Mom no longer knows how to chew her food anymore — the dementia will eventually do that. Therefore, I need to get her soft foods such as creamed corn, tuna, and soups. Thankfully, yogart, mashed potatoes, and applesauce are in other types of containers. But I also buy a number of canned vegetables because it’s quick and easy, so I am not going to be happy to pay higher prices for those items.
Nor do I think other consumers will be happy either with higher costs. The dreaded inflation that Trump was supposed to slay on day one looks very much alive to me. Yes, I know that Trump could never lower prices for groceries, but I hope someone reminds the dummies that prices for most items will continue to RISE thanks to Trump.
