Trump enforces tariffs on imports of timber
(MENAFN) US President Donald Trump has signed a proclamation introducing new tariffs on a range of lumber and wood-related imports, a move aimed at strengthening domestic industry and safeguarding national security, according to reports.
The measure applies a 10% tariff on softwood lumber imports worldwide, while upholstered furniture imports face a 25% duty that will rise to 30% on Jan. 1. Kitchen cabinets and vanities will also be subject to a 25% tariff, which is set to double to 50% at the start of the new year. These rates are scheduled to take effect beginning Oct. 14.
The decision follows a Commerce Department review led by Secretary Howard Lutnick, which determined that the scale and conditions of wood imports "threaten to impair national security" under Section 232 of the Trade Expansion Act of 1962.
The proclamation also specifies that the UK, the EU, and Japan will be granted “more favorable treatment” in recognition of trade agreements with the United States.
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