Trump Orders New Tariff Probe Into US Lumber Imports
U.S. President Donald Trump has ordered a new trade investigation that could heap more tariffs on imported lumber, adding to existing duties on Canadian softwood lumber and 25% tariffs on all Canadian and Mexican goods due next week. The probe covers derivative products made from lumber, including furniture such as kitchen cabinets, which could include U.S.-made lumber exported abroad. The investigation would expedite the Commerce Department's review, but no specific timeline has been set.
- This move highlights the escalating tensions between the U.S. and its lumber-exporting allies over trade policies, potentially leading to a protracted dispute that could harm the global timber industry.
- How will the imposition of tariffs on Canadian lumber affect the production costs of American furniture manufacturers and ultimately the price of finished goods for consumers?