Trump unveils 10% tariff on wood, delays 25% duties on kitchen cabinets, furniture

Tariff Announcement - President Trump announced a new 10% tariff on wood imports and delayed 25% duties on kitchen cabinets, bathroom vanities, and upholstered furniture until October 14 [1][13] - Tariffs on upholstered furniture are set to increase to 30% and on kitchen cabinets and bathroom vanities to 50% by January 1, 2026, unless trade agreements are reached [2] Justification and Impact - The Trump administration justified the tariffs on national security grounds, citing the impact of softwood lumber imports on the US economy and the closure of US wood mills [4][5] - The proclamation emphasized the importance of domestic manufacturing capabilities in the wood and lumber sector for national security [6] International Relations - Canada, the largest supplier of softwood lumber to the US, is facing significant anti-dumping tariffs and is negotiating for lower rates [6][8] - The US has established more favorable tariff rates for the UK (maximum 10%), EU, and Japan (maximum 15%) due to existing trade deals [8][9] Historical Context - Previous tariffs on Chinese furniture were set at 25% during Trump's first term, with Mexico and Vietnam emerging as significant producers since then [12]