Trade Fallout With China Could Harm U.S. Hardwood Exports
China has threatened retaliatory tariffs that could reach 25% on U.S. hardwood lumber and veneer exports and 20% on hardwood logs. AHEC's Mike Snow notes that the U.S. shipped $1.6 billion in hardwood lumber, $800 million in hardwood logs, and $260 million in veneer to China last year. The Chinese announced that the tariffs will be implemented "immediately" if the U.S. implements the proposed next round of tariffs on $200 billion on Chinese goods, scheduled by the Trump administration to take effect October 1.
Resource:
China Announces Supplemental Tariffs Response to U.S. 301 Tariffs (PDF)