US President Donald Trump imposed 10% on Monday on Monday and various wood products, and another 25% on kitchen cabinets, dressing tables and upholstered wooden furniture. Tariffs must come into force from October 14, with some increases expected to take effect on January 1.
According to Trump, the initiative aims to strengthen supply chains, expand industrial resilience, generate jobs and raise domestic production capacity.
Already builders warn that additional costs can discourage investments in new homes and reforms.
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Canada should be one of the countries most impacted by the measure, being the main wood supplier for the US and already subject to 35.2% tariffs aimed at combating alleged subsidies and unjust prices. Although Trump has stated that the US does not depend on Canadian wood, the country’s products represent about 20% of the US market.
The new rates are applied under section 232 of the Commercial Expansion Law, which allows the president to impose tariffs in the name of national security. They differ from reciprocal tariffs, directed to specific countries, which Trump used to increase revenue and correct commercial imbalances.
(Com Bloomberg)
