What is the latest on tariffs?

Asked 16 hours ago

Answer

The U.S. has imposed new tariffs on timber, lumber, and wood products, with rates up to 30% and further increases expected. Tariffs on Chinese shipping equipment reach as high as 270%. Trade tensions with China remain high, with threats of 100% tariffs and rare earth export controls. Tariffs are also affecting Canadian lumber and coffee imports, raising concerns about inflation, supply chains, and consumer prices.

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Additional tariffs on softwood lumber, wood products now in effect

CBC Canada · Recent

CBC Canada

Recent

The U.S. has implemented new tariffs on Canadian softwood lumber and wood products. 10s
Canadian officials are seeking ways to have the tariffs lifted, including potential quota arrangements. 16s
The tariffs include a 10% increase on lumber and a 25% tariff on Canadian-made kitchen cabinets. 2m 17s
Both Canadian and American industries are affected, with concerns about job losses and higher housing costs. 2m 32s
Canadian leaders are prioritizing the removal of tariffs in ongoing negotiations with the U.S. 2m 56s

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References

Additional tariffs on softwood lumber, wood products now in effect

CBC Canada

16 hours ago

Additional tariffs on softwood lumber, wood products now in effect

The U.S. has introduced new tariffs on Canadian softwood lumber and wood products, including a 10% increase on lumber and a 25% tariff on kitchen cabinets.

Trump's tariff on wood takes effect as farmers feel shutdown impact

CBS America

20 hours ago

Trump's tariff on wood takes effect as farmers feel shutdown impact

Timber faces a 10% tariff, and kitchen cabinets and vanities are at 25%, with increases expected in January. Countries with trade deals face lower tariffs.

How the U.S.-China trade war could impact cost of living for Americans

CBS America

1 day ago

How the U.S.-China trade war could impact cost of living for Americans

Imported softwood lumber now faces a 10% tariff, while upholstered wooden furniture is hit with a 25% levy. These tariffs are expected to raise costs for home building and furnishing.

How new tariffs could impact home remodeling

CBS America

1 day ago

How new tariffs could impact home remodeling

New U.S. tariffs target timber, lumber, and wood products, including a 10% duty on softwood lumber and a 25% tariff on upholstered wood furniture, kitchen cabinets, and vanities, with some rates set to double or rise to 30%.

Fed's Paulson doesn't expect sustained inflation from tariffs

Bloomberg

2 days ago

Fed's Paulson doesn't expect sustained inflation from tariffs

Federal Reserve official Paulson states that while tariffs increase price levels, they are not expected to cause sustained inflation as long as expectations remain anchored.

U.S. port fees hit China’s shipping sector, spark concern for Chinese banks

CNBC

2 days ago

U.S. port fees hit China’s shipping sector, spark concern for Chinese banks

New U.S. port fees and tariffs on Chinese-made freight vessels and cranes reach as high as 270%, impacting shipping, home builders, and furniture companies.