US EditionTrump's Wood Tariffs Take Effect, Raising Home Costs
Tariffs aim to protect U.S. wood industries and address national security, potentially raising homebuilding costs by $2,200, according to Capital Economics.
- US President Donald Trump’s tariffs on imported timber, furniture, and kitchen cabinets took effect on Oct 14, according to a statement from the White House.
- The tariffs include a 10 percent duty on softwood lumber and rise to 50 percent for kitchen cabinets by Jan 1.
- National Association of Home Builders chairman Buddy Hughes warned that the tariffs will raise construction costs and harm the housing market.
- The BC Lumber Trade Council criticized the tariffs as misguided, stating they will threaten jobs and worsen the housing supply crisis in the US.
137 Articles
137 Articles
The new minimum tariffs of 10 percent that the United States has imposed on global imports...
New tariffs on wood and furniture could significantly change prices in the Swedish furniture giant, as IKEA reacts to the change.
US President Donald Trump's new tariffs on imported lumber, furniture and kitchen cabinets took effect on Tuesday. The latest measures include a 10 percent tariff on softwood imports, while duties on some upholstered furniture and kitchen cabinets start at 25 percent. Furniture, doors and windows, and wooden construction materials have been among Kosovo's main exports to the US in recent years, writes Free Europe. From January 1, the rate on imp…
How New Tariffs on Lumber, Furniture May Affect US Consumers, Industries
Starting on Oct. 14, the United States began to apply a 10 percent tariff on all imported softwood timber and lumber. Additionally, a 25 percent tariff has been placed on all imports of upholstered wooden products, typically furniture, as well as on kitchen cabinets and vanities. Some affected by the tariffs love the idea. The American lumber industry and cabinet makers see the tariffs as a necessary move to stop foreign competitors from systema…
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