President Trump signed a proclamation that invokes Section 232 of the Trade Expansion Act to impose additional tariffs on timber, lumber, and their derivative products, including furniture, to “bolster American industry and protect national security.” The proclamation imposes, beginning October 14th, a 10% tariff on imported softwood lumber, a 25% tariff on certain upholstered furniture that is detailed here (increasing to 30% on January 1), and a 25% tariff on imported kitchen cabinets and vanities (increasing to 50% on January 1). In a fact sheet on the proclamation, the White House stated that trading partners who negotiate with the U.S. to “address the threat of wood imports to national security…may be able to secure an alternative” to the tariff increases, and the U.K., E.U., and Japan would receive more favorable tariff rates because of the terms of their recent trade deals with the U.S.
