Tariffs: China acts on US wood products
Wednesday 26 Sep 2018In early August, China's Commerce Ministry released a preliminary list of proposed tariffs on $16 billion in US goods. , It came just a day after the US Trade Representative's office released a final list of $16 billion in Chinese goods that will be hit with tariffs.
The tariffs were scheduled to be activated on 23 August, the Chinese ministry clarified, the same day that the US plans to begin collecting an additional 25 percent in tariffs on $16 billion in Chinese goods.
The list identified duties of 5, 10, 20 or 25 percent on 5,207 US imports that include a number of wood products such as softwood and hardwood logs, veneer and lumber, chips, pellets, MDF, OSB, wood pulp, paper and other processed and unprocessed wood materials.
You can view an unofficial version of the HTS (Harmonized Tariff Schedule) at the following links:
5% list (No forest products were included on the 10% list)
If enacted, these tariffs will have a significant impact on US markets, particularly the Pacific Northwest (PNW). Due to its proximity to Asian markets, the PNW region exports a number of wood products to China, including softwood logs, lumber, chips, wood pulp, paper, and other processed wood materials.
What will these proposed tariffs mean for the forest products industry in the PNW?
Landowners/land managers - Harvests have been near sustainable long- term levels and there has been very little wiggle room in regional private harvests over the last year. Those involved in the log export market could see diminished export opportunities, which will cause a shift to domestic markets that will result in lower pricing due to increased supply.
Source: Forest2Market news
Copyright 2004-2018 © Innovatek Ltd. All rights reserved.