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My thanks to DHA members for your support as we close out 2024 with our last issue of the newsletter for this year. We know that this year has been challenging for many parts of our industry as we have seen slower markets and increased imports. At DHA, we look forward to 2025 which will hopefully produce increased markets encouraged by lower inflation and lower interest rates that will boost homebuilding.

President-elect Trump is shaking up the status quo with dramatic policy and personnel announcements. His recent announcements of 25% tariffs on goods from Canada and Mexico and an additional 10% on goods from China will affect our industry. While many in our industry would welcome additional tariffs on imports from China, the situation with Canada is a little less clear. Hardwoods harvested in the U.S. are often spliced in Canada before being exported to the U.S. We will watch the Canada issue closely and continue talks with…

American voters gave Republicans a full sweep of the Presidency, the Senate, and the House of Representatives, albeit with narrow margins. This has important implications for policy in 2025. If Republicans can keep members united, they should be able to enact important tax changes including extending most of the provisions of the 2017 Tax Cuts and Jobs Act. In addition, expect the Trump administration and Congress to roll back onerous regulations and implement higher tariffs that are intended to help U.S. manufacturing.

By the time you get this newsletter in your inbox, the 2024 voting will be done. Donald Trump has won the presidential election and Republicans have won control of the Senate. At this time, control of the House of Representatives remains in doubt.

There is clearly a lot riding on the outcome of this election. Tax policy will be a huge issue in 2025 as the Tax Cuts and Jobs Act provisions will come to an end, setting up a debate that includes many policies important to DHA members.

Great news: the revised hardwood plywood standard, ANSI/HPVA HP-1-2024, has been finalized. Now is the time to preorder your hard copies of the full-size or pocket-size standard.