The new tariff policy announced by Trump recently will have a significant impact on the global timber trade market. According to the plan, a maximum tariff of 60% will be imposed on Chinese imports, 25% on Canada and Mexico, and 10% on other countries. This policy will directly affect the US timber import trade market worth $50 billion.
Analysis shows that the new tariff policy will increase the cost of US timber imports by about $25 billion, and low-income Americans will bear the main cost burden. Since the Sino-US trade war in 2018-2019, 62% of China's exports to the United States have faced an average tariff of 16%, but the new policy will significantly increase the tax rate.
In terms of specific impact, China's furniture and plywood tariffs will increase sharply from 16.2% to 60%, which may cause furniture prices to rise by more than 40%. Industry experts pointed out that the wood products industry enjoys near-zero tariff treatment under most US free trade agreements, and this tariff increase will have a far-reaching impact on the industry.
