NLBMDA condemns latest tariff
Following the latest tariff on Chinese goods from the the Trump Administration, the National Lumber and Building Material Dealers Association (NLBMDA) has responded with a statement in strong opposition to the move.
On Monday, President Trump announced that he is placing a 10% tariff on $200 billion in Chinese imports, which will then rise to 25% by the end of 2018.
The NLBMDA issued the following statement this morning:
The National Lumber and Building Material Dealers Association condemns the action taken by the Trump Administration imposing a 10 percent tariff on $200 billion worth of Chinese products imported to the United States.
The tariffs are set to take effect on September 24 and marks the latest round of tariffs on Chinese goods. In addition, the Trump Administration has announced that the tariffs on Chinese goods will increase to 25 percent starting on January 1, 2019, and if China retaliates then the U.S. will impose tariffs on an additional $267 billion in Chinese imports.
Analysis from the National Association of Home Builders estimates that the latest round of tariffs on Chinese products affects $10 billion of goods used by the residential construction sector. The tariff applies to 5,745 products and includes Chinese building materials such as oriented strand board, wood siding, plywood, and roofing slate.
Prior to the latest round of Chinese tariffs, imposition of duties and tariffs were already affecting residential construction. Combined antidumping duties (AD) and countervailing duties (CVD) of 20 percent are in place for most Canadian softwood lumber producers. The Trump Administration has also placed a 25 percent steel tariff and 10 percent aluminum tariff on products imported from most countries.
NLBMDA submitted written comments to the Office of the U.S. Trade Representative earlier this month opposing the latest round of Chinese tariffs and restarting trade discussions between the two countries. The association has also joined a newly formed coalition called Americans for Free Trade to highlight how tariffs on Chinese goods are hurting America’s small businesses.
“NLBMDA disagrees with the latest round of tariffs that will only further increase the cost of residential construction,” said Jonathan Paine, President and CEO of NLBMDA. “Every effort should be made to deescalate the trade dispute and work to resolve differences between the two countries.”
On Monday, President Trump announced that he is placing a 10% tariff on $200 billion in Chinese imports, which will then rise to 25% by the end of 2018.
The NLBMDA issued the following statement this morning:
The National Lumber and Building Material Dealers Association condemns the action taken by the Trump Administration imposing a 10 percent tariff on $200 billion worth of Chinese products imported to the United States.
The tariffs are set to take effect on September 24 and marks the latest round of tariffs on Chinese goods. In addition, the Trump Administration has announced that the tariffs on Chinese goods will increase to 25 percent starting on January 1, 2019, and if China retaliates then the U.S. will impose tariffs on an additional $267 billion in Chinese imports.
Analysis from the National Association of Home Builders estimates that the latest round of tariffs on Chinese products affects $10 billion of goods used by the residential construction sector. The tariff applies to 5,745 products and includes Chinese building materials such as oriented strand board, wood siding, plywood, and roofing slate.
Prior to the latest round of Chinese tariffs, imposition of duties and tariffs were already affecting residential construction. Combined antidumping duties (AD) and countervailing duties (CVD) of 20 percent are in place for most Canadian softwood lumber producers. The Trump Administration has also placed a 25 percent steel tariff and 10 percent aluminum tariff on products imported from most countries.
NLBMDA submitted written comments to the Office of the U.S. Trade Representative earlier this month opposing the latest round of Chinese tariffs and restarting trade discussions between the two countries. The association has also joined a newly formed coalition called Americans for Free Trade to highlight how tariffs on Chinese goods are hurting America’s small businesses.
“NLBMDA disagrees with the latest round of tariffs that will only further increase the cost of residential construction,” said Jonathan Paine, President and CEO of NLBMDA. “Every effort should be made to deescalate the trade dispute and work to resolve differences between the two countries.”