Roaring back from shutdowns related to the COVID-19 pandemic, Americans are on an unprecedented spending spree that is driving up prices and hampering global supply chains.
鈥淲e鈥檝e got this huge economy restarting from a low point that it hit about a year ago, and it鈥檚 coming straight up like a rocket,鈥 George Calhoun, a professor at Stevens Institute of Technology in New Jersey, explained in a recent interview with NBC News.
The surge in demand is driving up the costs of all sorts of products from food to furniture. Most recently, Starbucks reported that it has been having trouble sourcing its ingredients.
However, one of the biggest shortages is for raw materials like lumber, much of which is imported from Canada.
When asked if he鈥檚 ever seen such a wild swing with lumber prices, Ken Simonson, chief economist for the Associated General Contractors of America replied: 鈥淚t鈥檚 crazy.鈥
He added that the Trump-era tariffs on Canadian lumber that the Biden administration wants to double is a real concern:
鈥淭hat has certainly added some kindling to the fire on these lumber prices... As buyers of your products, the construction industry wants to see that tariff go away.鈥
Lumber prices tripled during the pandemic due to constraints on production and a housing boom that had a locked down nation eager to find a new place to live or renovate their existing residence.
According to 麻豆影视' Chief Financial Commentator Pattie Lovett-Reid, there is still soaring demand for lumber and long-term supply issues that won鈥檛 be resolved overnight.
In addition to the rising costs, consumers are also faced with Trump-era tariffs on Canadian lumber that the Biden administration now wants to double.
In 2018, the Trump administration imposed a 20 per cent tariff on Canadian softwood, before the COVID-19 pandemic hit, but lowered it to nine per cent late last year after a decision by the World Trade Organization.
U.S. industry analysts say tariffs and lumber costs add an extra US$35,000 to the price of a new home. That figure is so steep, Habitat for Humanity worries its charity could be priced out.
鈥淲e鈥檙e seeing an increase of about 50 per cent across the board of all supplies,鈥 saidLeah Miller, CEO of Habitat for Humanity of Greater Sacramento. 鈥淲e鈥檙e having to be very nimble and find creative ways to get busy.鈥
The U.S. is not alone in slapping new tariffs on foreign materials. In May, the Canada Border Services Agency set steep anti-dumping tariffs on leather-upholstered furniture manufactured in China and Vietnam, as high as 295 per cent and 101 per cent, respectively.
Top officials are downplaying the fears of rising costs and inflation, insisting that prices will stabilize when the pandemic is no longer an economic problem, but lawmakers are coming under intense pressure from home builders and other industries to cut tariffs.
鈥淲e have had several months of high inflation that most economists, including me, believe will be transitory as our economy gets back in full swing after the pandemic,鈥 U.S. Treasury Secretary Janet Yellen told the House of Representatives Committee on Thursday.
The White House has since launched a task force to deal with critical supply chain disruptions, but officials say they are confident that the issue will resolve itself in the coming months.
While America's southern border remains a hot button issue on the campaign trail, the result of the U.S. election in November could also impact the northern frontier with Canada, which remains the longest undefended border in the world.
New data raises questions about the drinks people consume and the potential risks associated with them, according to researchers at Galway University in Ireland, in partnership with Hamilton鈥檚 McMaster University.
Relentless Israeli airstrikes pounded Beirut's southern suburbs overnight and closed off the main highway linking Lebanon with Syria, forcing fleeing civilians to cross the border by foot.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
A federal judge has ordered the U.S. Environmental Protection Agency to further regulate fluoride in drinking water because high levels could pose a risk to the intellectual development of children.
An Ontario child died last month after coming into contact with a rabid bat in their bedroom, which was the first known human rabies case in Canada since 2019.
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
TikToks of customers stuffing their faces with a US$20 endless shrimp. More than 100 restaurant closures and thousands of layoffs. A revolving door of CEOs. Chapter 11 bankruptcy.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Melissa Duff-Shore, a Cambridge, Ont. woman who killed her daughter in 2020, has been ordered to a forensic hospital in St. Thomas.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
A northeastern Ontario jury has started deliberating in Canadian musician Jacob Hoggard's sexual assault trial, we can now tell you what they weren't allowed to hear.
A rural Colorado county courthouse beefed up security Friday after threats were made against staff and a judge who sentenced former county clerk Tina Peters to nearly nine years behind bars for her role in a data breach scheme catalyzed by the lie that the 2020 election was stolen from former President Donald Trump.
Oklahoma's top education official is seeking to purchase 55,000 Bibles for public schools and specifying that each copy contain the Declaration of Independence and U.S. Constitution, which are not commonly found in Bibles but are included in one endorsed by former President Donald Trump.
A French judge in the trial of dozens of men accused of raping an unconscious woman whose now former husband had repeatedly drugged her so that he and others could assault her decided on Friday to allow the public to see some of the video recordings of the alleged rapes.
A judge ripped into a Colorado county clerk for her crimes and lies before sentencing her Thursday to nine years behind bars for a data-breach scheme spawned from the rampant false claims about voting machine fraud in the 2020 presidential race.
The U.S. and British militaries struck more than a dozen Houthi targets in Yemen on Friday, going after weapons systems, bases and other equipment belonging to the Iranian-backed rebels, U.S. officials confirmed.
The fallout from storm damage to a North Carolina factory that makes critical hospital supplies will be felt broadly and could linger, experts say.
While America's southern border remains a hot button issue on the campaign trail, the result of the U.S. election in November could also impact the northern frontier with Canada, which remains the longest undefended border in the world.
NDP House leader Peter Julian says there's more his party wants to do in Parliament before the next election, but if the current dysfunction continues it will become a factor in how they vote on a confidence measure.
Prime Minister Justin Trudeau is set to announce funding to support French-speaking African countries and initiatives to promote the French language in the Francophonie.
New data raises questions about the drinks people consume and the potential risks associated with them, according to researchers at Galway University in Ireland, in partnership with Hamilton鈥檚 McMaster University.
A federal judge has ordered the U.S. Environmental Protection Agency to further regulate fluoride in drinking water because high levels could pose a risk to the intellectual development of children.
An Ontario child died last month after coming into contact with a rabid bat in their bedroom, which was the first known human rabies case in Canada since 2019.
Scientists announced on Thursday a milestone in neurobiological research with the mapping of the entire brain of an adult fruit fly, a feat that may provide insight into brains across the animal kingdom, including people.
For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other.
Alphabet's Google is testing showing check marks next to certain companies on its search results, a company spokesperson said on Friday, in a move aimed at helping users identify verified sources and steer clear of fake websites.
You might be thinking, 'Shut up!' but it鈥檚 officially true: the 'Princess Diaries' franchise is finally growing.
Legendary singer Paul Simon has said he is 'optimistic' about being able to return to performing live after losing most of his hearing in his left ear.
The jury tasked with determining if Canadian musician Jacob Hoggard sexually assaulted a young woman in northeastern Ontario eight years ago began deliberating Friday after nearly two weeks of testimony that saw the singer and his accuser give starkly different accounts of what happened.
TikToks of customers stuffing their faces with a US$20 endless shrimp. More than 100 restaurant closures and thousands of layoffs. A revolving door of CEOs. Chapter 11 bankruptcy.
Brazil's Supreme Court said on Friday that lawyers representing social media platform X did not pay pending fines to the right bank, postponing its decision on whether to allow the tech firm to resume services in Brazil.
Canada's airlines have failed in their challenge of air passenger protection rules that the federal government implemented in 2019.
A five-seat sushi counter located inside another restaurant is the latest Vancouver eatery to receive a Michelin star.
Toilet paper shortages in stores across America are giving folks nightmarish reminders of the pandemic era. But the lack of toilet paper isn鈥檛 a direct result of a major port strike Tuesday. It鈥檚 because of panic buying.
What does New Westminster's t蓹m蓹sew虛tx史 Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
Paul Pogba has had his four-year ban for doping reduced to 18 months after appealing to the Court of Arbitration for Sport.
The NFL saw its fewest number of concussions in the preseason since tracking started in 2015.
Caitlin Clark has been named the WNBA Rookie of the Year in a near-unanimous vote, giving the Indiana Fever back-to-back winners after Aliyah Boston won the honour last season.
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year.
A Pickering, Ont., student going to college to be a mechanic is shocked the engine in his two-year-old car will not be repaired under warranty after the dealership claimed he had been 'over-revving' the engine.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Chantal Kreviazuk is set to return to Winnipeg to mark a major milestone in her illustrious musical career.
From the beaches of Cannes to the bustling streets of New York City, a new film by a trio of Manitoba directors has toured the international film festival circuit to much pomp and circumstance.
A husband and wife have been on the road trip of a lifetime and have decided to stop in Saskatchewan for the winter.
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Moving into the second week of October, the eastern half of Canada can expect some brisker fall air to break down from the north
What does New Westminster's t蓹m蓹sew虛tx史 Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.
Chayton Point loved to dance. Just ask his mom.
As the provincial election campaign reaches the halfway mark, the party leaders made pitches to voters on bread-and-butter issues: housing, child care and jobs.
Vancouver police have deployed extra resources in anticipation of multiple protests planned for Oct. 7.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
According to the Bank of Canada, close to half of all Canadians with a credit card carry a balance each month and those who do, experience more financial stress than those who pay off their credit card each month.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Three Calgary businesses have been ordered to shut down after inspectors discovered evidence of uninspected meat.
A pedestrian is in critical condition after being struck by a vehicle in southeast Calgary on Friday night.
Alberta Health Services (AHS) says it is taking immediate action to expedite care for patients who had referrals to community health-care providers delayed.
New data shows the automated speed enforcement camera on King Edward Avenue, between Bolton Street and St. Patrick Street, issued 6,337 speeding tickets in August, the highest number of tickets issued by Ottawa's 40 photo radar cameras.
The owner of a Gatineau, Que. caf茅 says it's 'silly' that Quebec's language watchdog is telling the business to write its Instagram posts in French.
Gas prices in Ottawa are set to rise this weekend after a slight uptick overnight.
At least two people are dead and others are injured after a fire ripped through a century-old building in Old Montreal early Friday morning, sources told Noovo Info.
The owner of a Gatineau, Que. caf茅 says it's 'silly' that Quebec's language watchdog is telling the business to write its Instagram posts in French.
A 28-year-old female driver was seriously injured in a three-vehicle collision Friday afternoon in Saint-R茅mi, Mont茅r茅gie, reports the S没ret茅 du Qu茅bec (SQ).
A 79-year-old woman is dead after the vehicle she was driving crashed into an east Edmonton building late Friday afternoon.
A letter from Edmonton's mayor to the Alberta government detailing the city's fiscal wishlist ahead of next year's budget calls for fair treatment for the capital city, something several city councillors say isn't already happening.
A new docu-series that reveals what life is like for National Hockey League players on and off the ice during the playoffs is now out.
A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
The federal Fisheries Department says it is concerned about a "pattern" of violence and threats toward its enforcement officers after two tense incidents off southwestern Nova Scotia last month.
According to the Canadian Women & Sport's 2022 Rally Report, 76 per cent of girls who participate in sports believe it helps build confidence and enhances their mental health. While those benefits are important for all children, the organization's CEO says, right now, girls have less access.
It鈥檚 1998. Google was just born, and dial-up was the primary way to connect to the Internet. New sites were being developed daily on any number of topics, from recipes to shopping. David Yanciw, however, was thinking big - big things, that is.
Brady Oliveira and the Winnipeg Blue Bombers continue to roll along. Oliveira ran for a season-high 147 yards and a touchdown to power Winnipeg past the Hamilton Tiger-Cats 31-10 on Friday night.
A new report from Doctors Manitoba is calling for major changes to the way sick notes are issued in Manitoba, saying they are a waste of time for doctors and employers.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
A group of climate activists is challenging SaskPower's move towards natural gas, arguing it violates their Charter rights.
Regina kids facing mobility issues were gifted toy cars through the Go Baby Go program.
Police have laid charges after a car crashed into the side of a Kitchener home early Friday morning.
The K-W Symphony may have played their last concert but the musicians who made up the ensemble aren鈥檛 ready for their curtain call.
Melissa Duff-Shore, a Cambridge, Ont. woman who killed her daughter in 2020, has been ordered to a forensic hospital in St. Thomas.
The Saskatchewan Teachers' Federation hosted a virtual election forum on education Thursday evening, giving candidates in the provincial election a chance to share their thoughts and answer questions on issues teachers find most important.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Saskatoon police arrested a homeless person at the scene of an encampment underneath the University Bridge on Friday morning.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Two police officers in Greater Sudbury required medical attention for injuries they received arresting a man for the second time in just two days.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
In case you missed it, 麻豆影视 London has gathered all of the top local stories from this week into one video for your convenience.
Fall conditions have arrived in the Forest City, with chilly mornings and warmer afternoons in the forecast.
The Ministry of Labour is investigating a workplace incident that claimed the lives of two people in Georgian Bluffs, south of Owen Sound.
A woman whose son died last month while at a Penetanguishene, Ont. beach with another family member wants to see safety increased at the beach.
The Ministry of Labour is investigating a workplace incident that claimed the lives of two people in Georgian Bluffs, south of Owen Sound.
Provincial police are investigating a collision along Highway 400 in Tay Township Friday afternoon.
In case you missed it, 麻豆影视 Windsor has compiled all of the top local stories from this week into one video.
The Detroit Tigers are continuing their postseason push after sweeping the Houston Astros in the Wild Card Series 鈥 and the excitement is palpable across the Windsor-Essex region.
A London, Ont. man, who pleaded guilty earlier this year in a harassment case, has been sentenced to two months in jail for criminal harassment of a Windsor, Ont. family.
We haven't heard the candidates talk much about education during B.C.'s 2024 election campaign, but the teachers' union is trying to put the spotlight on that issue.
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
Many British Columbians were shaken awake early Friday morning when an earthquake struck in the Strait of Georgia, about 18 kilometres southwest of Tsawwassen.
Three young suspects have been arrested in connection with a swarming attack on a teenager in B.C.'s Okanagan last week 鈥 and authorities have asked the public to stop circulating disturbing videos of the incident.
A father in Kelowna is furious after his 13-year-old daughter was brutally beaten on Gyro Beach. He is calling for criminal charges in the devastating attack, which was caught on video by multiple bystanders.
The officer who shot and killed a forcible confinement suspect in Kamloops two years ago was justified in doing so, according to the Independent Investigations Office of B.C.
A person was airlifted to hospital following a serious crash in Taber, Alta., on Friday morning. Taber RCMP responded to the scene on Highway 864 around 10:30 a.m., for a crash involving an SUV and a semi-truck.
To enhance inclusivity at Lethbridge Polytechnic, the institution has launched a new accessibility micro-credential.
WestJet has changed its operations at the Lethbridge Airport, and it means there's now only a single daily flight from Lethbridge to Calgary, down from three flights a day, as offered previously.
Two teens, ages 14 and 19, have been charged with arson in connection with a July 14 fire in Cat Lake First Nation that destroyed $500,000 in construction materials.
A northeastern Ontario jury has started deliberating in Canadian musician Jacob Hoggard's sexual assault trial, we can now tell you what they weren't allowed to hear.
A suspect who accused Thunder Bay police of being responsible for his throat injury actually hurt himself when he swallowed a large amount of drugs.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people鈥檚 basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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