Top stories this week include the U.S. Trade Representative's decision to continue Section 301 tariffs on China after receiving a flood of comments supporting the extension. The Coalition for Fair Trade in Hardwood Plywood and the American Multilayer Hardwood Floors Manufacturers Coalition—both of which include several DHA members—filed comments urging the continuation of the 25% tariffs on Chinese products.
U.S. imports of hardwood plywood are up 61% in value and 28% in volume through July. Although imports from Russia have declined about 11% in volume so far this year, the value of those imports is still up 68%. Imports of Russian hardwood plywood totaled nearly $9 million in July, down from an average of nearly $45 million per month from January through April.
While housing markets are clearly slowing in response to higher interest rates, kitchen cabinet sales are still rising—up nearly 20% in July. It's good to see continued strength in this important market.
If you have questions or comments, contact me. I look forward to hearing from you.
Keith A. Christman, President
Decorative Hardwoods Association
Photo © Office of the U.S. Trade Representative