NEWS

U.S. imports of wooden furniture reached $10.2 billion in the first half of 2024, a 6% increase over last year. Imports from Vietnam and Malaysia grew by 18% and 9%, respectively, driving the change. Imports from Mexico and Indonesia fell by more than 5%.

Read more: US And Canada Timber And Wood Product Price And Market Report →

In the first half of 2024, U.S. imports of hardwood plywood outpaced 2023 by 32%. Imports from Vietnam and Malaysia have more than doubled; imports from Indonesia grew by 55%. June finished slow: imports fell by 17% to 201,632 cubic meters, 21% lower than last June's volume.

Read more: US And Canada Timber And Wood Product Price And Market Report →

The Forest Resources Association, DHA, and allied organizations encouraged USDA's support of a full range of forest products that help sustain a viable forest industry in rural communities and to take the lead in developing markets for biomass generated from actively managing forestlands. Some of the many economic and environmental benefits include supporting healthy, resilient forests for thousands of forest landowners, loggers, and industry workers.

The U.S. Department of Agriculture will help create jobs in rural areas through USDA's Intermediary Relending Program. The program provides low-interest loans to local lenders who then re-lend the funds to local businesses to help grow economies in rural communities. Businesses can use these loans to buy equipment and machinery and to "acquire, build, convert, expand or repair a business."

PHOTO © GARRETT ENGLISH

The Hardwood Federation and American Hardwood Export Council met with the U.S. Trade Representative's office to discuss the latest developments on the EU Deforestation Regulation. Most in the wood products industry have grave concerns about how the EUDR will affect European export markets if imposed as planned in December. AHEC provided a detailed analysis of the issues hardwood exporters will face as well as possible solutions the U.S.