FX.co ★ Trump Sets 10% Tariff on Lumber Imports

President Donald Trump issued a proclamation on Monday, announcing a 10% tariff on lumber imports and a 25% tariff on vanities, kitchen cabinets, and upholstered wooden products, according to the White House as reported by Reuters. The proclamation specifies that these tariffs will be implemented starting October 14. Furthermore, as of January 1, the tariff rates are set to increase to 30% for upholstered wooden products and to 50% for kitchen cabinets and vanities from countries that do not secure a trade agreement with the United States.