The American Hardwood Export Council (AHEC) announced the following on April 9:
After the U.S. tariff increase on Chinese goods went into effect at midnight April 8, the Chinese Ministry of Finance State Council Tariff Commission has announced that they will be raising tariffs on all products coming into their country from the United States. This statement increases the tariff on all U.S. products to 84% (up from 34%).
The statement has two parts:
• The initial retaliatory tariff of 34% on products has been increased to 84% starting on April 10th
• “other matters” shall be implemented according to the previous announcement on April 4thof the initial 34% tariff.
There are obviously some details to be ironed out, but AHEC’s first interpretation of this statement and the point about “other matters” suggests that delay in enforcement for goods shipped before April 10th and arriving in China before May 13th is still in effect.
We are of course hearing that many orders are being cancelled, and this uncertainty in trade with our largest hardwood market is having significant effects across our industry. We are also awaiting news from the European Union, where there is a vote scheduled later today on their response to the U.S. tariffs.
We strongly encourage you to get in touch with your representatives in DC and let them know how these trade policies are effecting your business. Copied below is a message from the Hardwood Federation on how to make your voice heard.
Tell Congress What YOU Think How are Tariffs Impacting Your Business
The Hardwood Federation has heard from many of our hardwood leaders about the swift impact the tariffs imposed by the Trump Administration have had on their operations and business.
Now it’s time to tell Congress!
You can send an email directly to your Senator and your Member of Congress by clicking here. Draft language is already loaded but make it more impactful by adding your personal thoughts and experience. An option to call is also available.
It is imperative that those on Capitol Hill hear from you today! Take Action Now! And feel free to share this message with your friends and family so they too can weigh in.
