‘Live eels’
Real Estate Editor Richard Mize explores the munitions in use in the trade war with China and the resulting effect on local real estate.
The “live eels” first got my attention on the long list of items and materials — animal, vegetable, mineral, and premanufactured — used as materiel in President Donald Trump’s trade war with China.
“Boy, this is going to get detailed,” I thought, starting to skim 205 pages of fine print from the Office of the U.S. Trade Representative, tasked with compiling a list of stuff to total $267 billion of goods — on top of the $200 billion already at war.
And boy, did it.
“Eels, fresh or chilled, excluding fillets, other meat portions, livers and roes.”
“Eels, frozen, excluding fillets, other meat portions, livers and roes.”
“Eels or snakeheads, fillets, fresh or chilled.”
But wait! There’s more!
“Prepared or preserved eels, whole or in pieces, but not minced, in airtight containers, not in oil.”
“Eel portions similar to fish sticks and like products of any size or shape, breaded, coated with batter, not cooked nor in oil.”
It just goes on, and gives an idea of just how detailed this thing is getting.
“Prepared or preserved eel, in oil and in bulk or in immediate containers weighing over 7 kg each.”
“Prepared or preserved eel, whole or in pieces, but not minced, nesoi” — and there I learned a new acronym, new to me because international trade and tariffs are not the daily concerns of a local real estate and construction news beat.
NESOI means “Not Elsewhere Specified Or Included” in trade and customs speak, and “Not Elsewhere Specified Or Indicated” in tariff scheduling.
International trade and tariffs have become occasional concerns — not daily! not yet — of this local real estate and construction news beat because the trade war affects so much.
Homebuilders are on high alert as they brace for even more inflation in the cost of construction and materials.
The tariff list includes: “Marble and travertine, crude or roughly trimmed Marble, merely cut into blocks or slabs of a rectangular (including square) shape; Travertine, merely cut into blocks or slabs of a rectangular (including square) shape; Granite, crude or roughly trimmed; Granite, merely cut into blocks or slabs of a rectangular (including square).”
The National Association of Home Builders has tried to get President Trump to retreat, or negotiate, or at least whoa. Chairman Randy Noel said:
“Though wellintentioned, President Trump’s threat to slap an additional $267 billion worth of tariffs on Chinese goods will be counterproductive by raising costs for millions of American consumers and businesses that rely on these products, including home builders.”
The list includes:
“Wall or ceiling coverings, with a backing of manmade fibers, greater than 70% by weight of PVC; Wall or ceiling coverings, with a backing of manmade fibers, less than or equal to 70% by weight of PVC; Wall or ceiling coverings of polymers of vinyl chloride with a backing of textile fibers other than of manmade fibers; Wall or ceiling coverings of polymers of vinyl chloride, without a backing of textile fibers.” Noel said: “These tariffs would be in addition to $200 billion worth of proposed tariffs that are already in the pipeline and could act as a tax increase of up to $2.5 billion on the residential construction industry.”
The list includes:
“Wood in the rough whether or not stripped of bark or sapwood, or roughly squared, treated with paint, stain, creosote or other preservatives; Oak wood in the rough, whether or not stripped of bark or sapwood, or roughly squared, not treated with preservatives; Beech wood in the rough, not treated with preservatives; Wood in the rough, nesoi; Coniferous wood, roughly shaped into poles, pickets, stakes, sticks and other forms, to be finished into specific articles or products.”
Noel said: “Currently, tariffs on steel imports and Canadian lumber shipments into the U.S. are needlessly increasing the cost of building materials and exacerbating the housing affordability crisis. Rather than escalating the situation, NAHB respectfully urges the administration to move quickly to resolve these trade disputes in a manner that won’t tax American workers and consumers.”
This is going to hurt.
“Electromechanical kitchen waste disposers (disposals), with selfcontained electric motor, for domestic uses.”
Really hurt.
“High definition color television reception apparatus, nonprojection, with cathode-ray tube, incorporating a VCR or player.”
The trade war could literally hit you in your pocket or handbag.
“Articles of a kind normally carried in the pocket or handbag, with outer surface of vegetable fibers, not of pile or tufted construction, nesoi; Articles of a kind normally carried in the pocket or handbag, with outer surface 85% or more silk or silk waste; Articles of a kind normally carried in the pocket or handbag, with outer surface of cotton.”
I should have stopped reading at “Eels or snakeheads, fillets, fresh or chilled.”