As the trade war between U.S. and China heats up, U.S. President Donald Trump has listed more than $200 billion worth of Chinese exports to the U.S. that may be subjected to new tariffs come end of August.
The list is massive and includes industrial goods and chemicals, consumer products, and wood products.
If the list comes into effect, just under 50 per cent of all Chinese imports would be imposed with tariffs.
Wood products that will face duties include oak, beech, maple, ash, cherry, mouldings, rods, particleboard, various types of plywood, doors, charcoal, corks and stoppers, and wicker and bamboo baskets.
Furniture items include bedding, mattresses, car seats, wood chairs, furniture designed for offices, kitchens, chandeliers, and lamps.
Wood pulp products and paper products are also on the list.
The proposed tariffs would be on top of 25 per cent tariffs that the Trump administration has already implemented on US$50 billion of Chinese goods: $34 billion of which took effect on July 6. China vows to retaliate.
Because China imported just $130 billion worth of products from the U.S. last year, making it an unequal fight to fire back with matching tariffs.
U.S. companies in China have already reported spikes in delayed product approvals, worker visas, and licensing applications. Cases of Chinese officers ordering seemingly random quarantines for certain products, and surge in random border inspections were also reported.
The International Tropical Timber Organization also reported that trade of wood products between China and the U.S. are already declining.
Figures from China’s Customs Department shows the value of wood products trade between China and the U.S. fell 16 percent in March 2018. China’s imports fell by 5 per cent, though first quarter data showed a 9 per cent rise in Chinese exports of wood products. China’s imports rose 6 percent to $2.28 billion in the first quarter of 2018, while its exports to the U.S. rose 10 percent to $3.98 billion.
Source: Woodworking Network