Trump Imposes New Tariffs: 10% on Lumber, 25% on Kitchen Furniture
President Donald Trump has announced new tariffs on imported wood products. Starting October 14, there will be a 10% duty on softwood lumber and timber and a 25% tariff on kitchen cabinets, vanities, and wooden furniture.
The move is aimed at protecting U.S. wood mills and the domestic furniture industry. Trump says the current level of imports is hurting American businesses and jobs.
Countries like Canada, Vietnam, and Mexico, which export large amounts of wood and furniture to the U.S., will likely feel the impact the most. Some exemptions or capped rates may apply for countries with existing trade agreements, such as the UK, EU, and Japan, to avoid trade tensions.
These tariffs could lead to higher prices for U.S. builders, homeowners, and retailers relying on imported wood and furniture. On the other hand, domestic producers may benefit if imports drop and local demand rises.
Impact:
Wood and furniture costs in the U.S. could rise. Imported goods may decrease, benefiting local producers. Countries affected may negotiate for lower duties or exemptions.