NEWS

Lumber costs for a new single-family home in the U.S. have tripled. Now, home builders are pushing the Biden administration for a new softwood deal with Canada. Under the current agreement, the U.S. imposes duties of nearly 9% on imports of most Canadian lumber.

U.S. lumber companies are continuing to expand capacity as wood prices reach record highs.

Resources:

Resource:

Fordaq: Rise China plywood production capacity

Last year, Vietnam shipped more than $7.4 billion in furniture to the U.S., an increase of 31%. China shipped $7.33 billion in furniture to the U.S. in 2020, down 25% from the $9.7 billion shipped in 2019.

Resource:

Furniture Today: Vietnam overtakes China as largest exporter to U.S.

The U.S. Department of the Treasury has removed Vietnam from its list of currency manipulators. As a result, the U.S. might not apply related tariffs or other restrictions on imports from Vietnam, a departure from the government's previous stance.

Resource:

The USDA has indicated that the European Union will no longer restrict imports of maple veneer from Wisconsin, Michigan, New York, North Carolina, or Vermont.

Resource:

Maple Veneer Requirements for the European Union (PDF)