On Friday, President Trump raised tariffs on $200 billion worth of Chinese exports from 10% to 25% because, he claimed, China “broke the deal” with the United States on a trade agreement between the world’s two largest economies. The increase, according to the National Association of Home Builders, reflects a jump from $1 billion to $2.5 billion in additional housing costs, which will likely negatively affect home sales. “NAHB’s forecast calls for slowing growth, given declining home price appreciation and existing home sales volume, combined with rising construction costs,” said NAHB’s chief economist Robert Dietz.
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