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Hundred of construction products needed to needed to build homes and apartments are subject to the tariff. (Photo: Shutterstock) Hundred of construction products needed to build homes and apartments in the U.S. are subject to the tariff. (Photo: Shutterstock)

With a March deadline rapidly approaching, the clock is ticking for the United States and China to come to a trade agreement. During their early December 2018 meeting at the G20 Summit in Argentina, U.S. President Donald Trump and Chinese President Xi Jinping discussed the contentious trade war between the two superpowers. While there were many storylines from the G20, for homebuilders, the stake of this meeting were enormous.

Last September, the U.S. imposed a 10% tariff on $200 billion in Chinese imports, a burden that impacted homebuilding disproportionately. To be precise, 600 of the 6,000 products that are subject to the tariff are materials needed to build homes and apartments. The total added cost of the tariff on housing products is $1 billion annually.

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