Homebuilding Materials Tariff Relief Act

This bill exempts certain homebuilding products from tariffs imposed on or after January 20, 2025, with conditions for reimposing those tariffs.

Sec. 2, Exemption from certain tariffs for certain homebuilding products: Critical homebuilding products are exempt from covered tariffs starting on the date of enactment. The President may not reimpose a covered tariff on a critical homebuilding product unless the Housing Affordability Index maintained by the National Association of Realtors averages 160 or above for the preceding 12 months and a joint resolution of approval is enacted into law. The bill defines procedures for introducing and expediting such a joint resolution. Covered tariffs are tariffs imposed on or after January 20, 2025, but exclude tariffs under Title VII of the Tariff Act of 1930, Chapter 1 of Title II of the Trade Act of 1974, or a dispute settlement agreement. A critical homebuilding product is any product used in constructing or furnishing a single-family home or multi-family residential building, including materials or inputs, that is classified under specific headings or subheadings of the Harmonized Tariff Schedule of the United States listed in the bill.