How New Tariffs on Lumber, Furniture May Affect US Consumers, Industries

Date:

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 systematically undercutting Americans.

spot_imgspot_imgspot_img

Share post:

More like this
Related

Wall Street Review: Stocks Recover as Tech Earnings Lift Sentiment

Better-than-expected earnings reports from Microsoft and Amazon during the...

US Embassy Issues Security Alert After Thousands of Illegal Immigrants Cross Into Spain

Young Moroccan migrants sort through piles of discarded shoes...

US Bans Imports From 43 Chinese Firms Over Forced Labor Charge

Young girls sew clothes in a workshop in Hotan,...

Greek Deli Shuts After 54 Years as Owner Cites Tough Business Conditions

A beloved Greek deli in the heart of Sydney’s...