Trump Introduces Tariffs on Wood Imports
(MENAFN) President Donald Trump issued a formal proclamation on Monday announcing new tariffs aimed at strengthening domestic manufacturing and safeguarding U.S. national interests.
These measures target imports of timber, lumber, and related goods, signaling a significant shift in trade policy.
The proclamation establishes a 10% universal tariff on incoming shipments of softwood lumber.
Additionally, a 25% duty will be imposed on specific upholstered furniture items, with this rate slated to rise to 30% starting January 1.
Furthermore, a 25% global tariff will also be levied on kitchen cabinets and bathroom vanities. This particular tariff is set to double, reaching 50% by January 1.
The initial implementation date for these new tariffs is October 14, as specified in the official announcement.
This decision stems from findings by Secretary of Commerce Howard Lutnick, who, after a thorough investigation, determined that imported wood products are entering the U.S. "in quantities and under conditions that threaten to impair national security" as outlined under Section 232 of the Trade Expansion Act of 1962.
In a notable exception, the proclamation states that the United Kingdom, the European Union, and Japan will receive "more favorable treatment" due to the conditions negotiated in their existing trade agreements with the United States.
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