Trump’s tariffs on lumber come at a terrible time for the U.S. housing market. Here’s why

Shopping for a new home? Ready to renovate your kitchen or install a new deck? You’ll be paying more to do so.

The Trump administration’s tariffs on imported goods from Canada, Mexico and China — some already in place, others set to take effect in a few weeks — are already driving up the cost of building materials used in new residential construction and home remodeling projects.

The tariffs are projected to raise the costs that go into building a single-family home in the U.S. by $7,500 to $10,000...