Latest news with #Saberi
Yahoo
2 days ago
- Business
- Yahoo
Fight over lumber tariffs could reshape future of US home building
Lumber is in the spotlight as the National Association of Home Builders (NAHB) and the U.S. Lumber Coalition disagree over what's behind the U.S. housing market slump. FOX Business correspondent Kelly Saberi reported Monday that the NAHB has pointed to tariff uncertainty and lumber prices as being partly responsible. The U.S.'s current anti-dumping and anti-subsidy duty on imported Canadian softwood lumber stands at 14.5%. It could potentially climb later in the year to nearly 35%. Canada's softwood lumber makes up roughly 85% of America's imports and almost a quarter of the U.S. supply, according to the NAHB. "I share President Trump's desire to create fair and balanced trade across our borders, certainly would bring back as much production as we can," NAHB CEO Jim Tobin said. "But until we do that, and it will take years and millions of dollars of investment, we need to make sure that we have a reliable, affordable source of lumber." Saberi reported that the U.S. Lumber Coalition "says that the price of lumber says something different about this story." Read On The Fox Business App Between May 2021 and April of this year, the random lengths framing composite price decreased 67%, she reported. It stood at $442 per 1,000 board feet as of May 23, per the NAHB. Meanwhile, the price of new homes has gone up 21%, Saberi reported. "Everything from regulatory costs to the cost of land and, quite frankly, also the cost of home builder profitability rates that have gone up, those are actually the driving forces of home affordability," U.S. Lumber Coalition executive director Zoltan van Heyningen told FOX Business. "Lumber just isn't one of them." Click Here To Read More On Fox Business The U.S. Lumber Coalition has also been critical of Canada, saying that "ongoing unfair trade practices" by its lumber industry have been "extremely harmful to U.S. lumber producers, workers, and their forest-dependent communities." John Kalabich, the owner of Acme Lumber in Chicago, told Saberi he was able to keep prices relatively flat over the past 12 months because of the duty on Canadian lumber. He has also heard from contractors that the demand for small repair work and big-ticket construction has gone down. Trump Issues Executive Orders Addressing Lumber Production, National Security Concerns Last month, the U.S. Census Bureau said single-family housing starts suffered a 2.1% decline from March to a seasonally adjusted annual rate of 927,000 in April. Sales of new single-family homes in April came in at a seasonally adjusted rate of 743,000, while sales of existing ones were 3.63 article source: Fight over lumber tariffs could reshape future of US home building
Business of Fashion
23-05-2025
- Business
- Business of Fashion
Boris Bidjan Saberi Is Shutting Down Operations
Boris Bidjan Saberi, the brand known for its sophisticated menswear silhouettes informed by subcultural codes and artisanal production, is ceasing operations. The company confirmed in a statement to The Business of Fashion that it will close by the end of July. News of the label's shuttering was first revealed in a letter sent out to retail partners that was shared by blogs such as StyleZeitgeist on Thursday. In the letter, the brand said current manufacturing hurdles made it 'unviable' for the German-Persian designer to continue producing his two namesake labels, Boris Bidjan Saberi and 11 by Boris Bidjan Saberi. 'The reality is clear: under current conditions and without reallocating production, it is impossible for us to maintain operations with the standards of quality, integrity, and consistency that has always been the foundation of our project,' the brand shared in its statement to retail partners. Launched in 2007, Saberi's label blossomed during a 2010s menswear boom that saw the rise of chic yet dark labels embracing unconventional silhouettes propelled by designers such as Saberi and Rick Owens, as well as brands such as the Viridi-anne and Julius. During the label's nearly 20-year run, it anticipated the rise of contemporary menswear trends such as 'gorpcore' by becoming one of the first fashion labels to collaborate with the outdoor brand Salomon on sneakers in 2016. At end of the letter to retail partners, the brand shared that the closure did not signal the end of the designer's career but a transformation. 'Boris's vision, aesthetic, and spirit will continue, in other forms, in other formats, and under new structures that allow for greater exploration without compromising the essence of the brand.' Learn more: How Matches' Collapse Could Impact Independent Fashion The luxury retailer's closure has far-reaching knock-on effects for independent brands. Unpaid bills for inventory have pushed some labels into dire financial straits, while confidence in other stockists like Farfetch-backed Browns has sunk to a nadir.
