Trump Slaps Fresh Tariffs on Timber, Furniture Imports
(MENAFN) President Donald Trump enacted a new proclamation on Monday, imposing tariffs on timber, lumber, and related products as part of a strategy to boost domestic industries and safeguard U.S. national security.
Effective October 14, the proclamation introduces a 10% tariff on imported softwood lumber and a 25% tariff on select upholstered furniture, with the latter increasing to 30% starting January 1. Additionally, a 25% global tariff will be placed on kitchen cabinets and vanities, set to rise to 50% in the new year.
The move follows a report by Secretary of Commerce Howard Lutnick, who argued that the growing influx of wood products could undermine U.S. national security, citing provisions under Section 232 of the Trade Expansion Act of 1962.
Notably, the UK, the EU, and Japan will be granted "more favorable treatment" due to their existing trade agreements with the U.S., according to the proclamation.
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