The US President ordered the US Department of Commerce to open an investigation into lumber imports, shortly after announcing that he could impose a 25% tariff on the item.
US President Donald Trump - Photo: REUTERS
According to Reuters, on March 1 (local time), US President Donald Trump signed an order ordering Commerce Secretary Howard Lutnick to open a national security investigation into US lumber imports.
A big blow to wood exporters
The investigation is being conducted under Section 232 of the Trade Expansion Act of 1962 - the law that Mr Trump used to declare global tariffs on imported steel and aluminium.
The investigation covers derivative products made from lumber, including furniture. In some cases, products made from U.S. lumber that are exported and re-imported are also subject to the investigation.
The US Department of Commerce will have 270 days to complete this investigation.
In addition, Mr. Trump also requested that within 90 days, the domestic supply of lumber must be increased.
Some of the solutions he proposed were to simplify licensing procedures for logging from public land and increase the efficiency of logging from fallen trees in forests...
In addition, the White House is asking federal agencies to issue or update guidance aimed at increasing timber production, including faster approvals for forestry projects under the Endangered Species Act.
White House trade adviser Peter Navarro said the investigation into lumber imports was in response to actions by major lumber exporters such as Canada, Germany and Brazil.
According to Mr. Navarro, the above countries "dump timber into our market at the cost of both economic prosperity and national security".
“That ends today with a series of Trump-style actions aimed at simultaneously increasing both the supply and demand for American lumber and timber,” he told reporters in a telephone briefing ahead of the executive order signing.
Taxable up to 25%
Lumber boards were heavily discounted at a store in Virginia (USA) right after Mr. Trump announced tariffs on Canada and Mexico in early February - Photo: AFP
A White House official asserted that the United States' growing reliance on imported lumber could pose a national security risk, as the U.S. military uses large amounts of lumber in construction activities.
In addition, increasing dependence on imports for a product that is abundantly available domestically is also a threat to the US economy.
The official did not specify what tariffs the White House might propose on timber, but Trump said on Feb. 20 that he was considering imposing tariffs of up to 25 percent on imported lumber and forestry products as early as April 2.
The official also stressed that the lumber tariffs would be applied in addition to the 25% tariffs Washington has imposed on goods from Canada and Mexico, unless the two countries convince Mr. Trump to lift the regulation by March 4.
This opens up the prospect that Canadian lumber will face a tariff wall of up to 50% or more if it wants to be imported into the US.
Source: https://tuoitre.vn/my-mo-dieu-tra-viec-nhap-khau-go-co-the-danh-thue-toi-25-20250302130405237.htm
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