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Washington policymaking is hitting overdrive with a flurry of executive orders. The Wall Street Journal reported that President Trump will not impose any new tariffs yet and instead issued a memo directing federal agencies to evaluate trade policies and economic relationships. Our industry has had to fight illegal trade from China and Vietnam in recent years. We look forward to working with the new administration on illegal trade practices.

The Wall Street Journal recently highlighted the challenges domestic manufacturers face when dealing with unfair and illegal imports in a story about the transshipment of Chinese cabinets through Malaysia. The challenge is very familiar to hardwood plywood manufacturers and others trying to keep up with importers' efforts to evade duties.

My thanks to DHA members for your support as we close out 2024 with our last issue of the newsletter for this year. We know that this year has been challenging for many parts of our industry as we have seen slower markets and increased imports. At DHA, we look forward to 2025 which will hopefully produce increased markets encouraged by lower inflation and lower interest rates that will boost homebuilding.

President-elect Trump is shaking up the status quo with dramatic policy and personnel announcements. His recent announcements of 25% tariffs on goods from Canada and Mexico and an additional 10% on goods from China will affect our industry. While many in our industry would welcome additional tariffs on imports from China, the situation with Canada is a little less clear. Hardwoods harvested in the U.S. are often spliced in Canada before being exported to the U.S. We will watch the Canada issue closely and continue talks with…

American voters gave Republicans a full sweep of the Presidency, the Senate, and the House of Representatives, albeit with narrow margins. This has important implications for policy in 2025. If Republicans can keep members united, they should be able to enact important tax changes including extending most of the provisions of the 2017 Tax Cuts and Jobs Act. In addition, expect the Trump administration and Congress to roll back onerous regulations and implement higher tariffs that are intended to help U.S. manufacturing.