Trump's new Canada tariffs could hit North Carolina housing costs

President Donald Trump has reignited a trade war with Canada using new legal authorities after the Supreme Court invalidated his initial tariff basis, potentially impacting North Carolina and other states where Canada is the top trading partner. The new tariffs affect about 500 Canadian products worth $20 billion, including plywood, which could raise housing costs. Canada plans retaliatory tariffs on September 8. The administration cites Section 338 of the 1930 Tariff Act, an untested authority legal experts say may be overturned. Average U.S. tariff rates stand at 7.2%, the highest since 1967. Refunds from invalidated tariffs have caused negative revenue months. Economic growth remains below 2.1% quarterly, and manufacturing jobs have declined by 62,000 since January 2025.