The Appalachian Hardwood Manufacturers, Inc. wrote: The U.S. – China tariff escalation will again impact hardwood lumber exports, according to reports today. The Chinese government announced a hike in tariffs on $60 billion in U.S. goods beginning June 1. The move is in retaliation for the U.S. decision to hike duties on Chinese goods to 25% on May 10.
Early indications are that U.S. lumber tariffs on June 1 will be:
- Oak species increases to 25%
- Cherry and Ash increases to 20%
- Walnut, Hard Maple, Poplar and Alder remain at 5%.
This is based on reporting from the Hardwood Federation and confirmation from two U.S. hardwood exporting companies and their overseas sales staff. AHMI is awaiting documentation from the U.S. government and asks you to request documents from customers.
From other media: President Donald Trump said on Monday that his administration was planning to provide about $15 billion in aid to help U.S. farmers whose products may be targeted with tariffs by China in a deepening trade war. He did not provide more details on what kind of an aid package it would be.