NEWS

On June 2, the Office of the U.S. Trade Representative announced its findings and proposed remedies for countries that fail to prevent imports of products made with forced labor under Section 301 of the Trade Act of 1974. According to the USTR, 6 economies, including Canada, Mexico, the EU, and Indonesia, have failed to effectively enforce prohibitions on imports of goods produced with forced labor, resulting in a 10% proposed tariff.

How many species of trees are endangered in the U.S.? What hardwood species do these include?

Answer: Approximately 135 native tree species are endangered in the U.S. About 120 of these are hardwoods, including the American chestnut and American elm. 

Read More: State Foresters Endangered Species Day → 

While total U.S. manufacturing activity grew in April for the fourth consecutive month, the wood products sector fell behind again. The wood products industry is one of three industries still shrinking, reporting declines in new orders, production, inventory, imports, and employment.

Vietnam's exporters have targeted at least 45 new markets to reduce their exposure to U.S. tariffs, which include antidumping and countervailing duties on hardwood plywood. Vietnam's wood and wood product exports reached $1.43 billion in April, up by 3% vs. March but down by 1% vs. last year. Exports from January through April totaled $5.4 billion, up by 0.4% vs. last year; furniture exports reached $3.1 billion, down by 6%.

The U.S. government has begun refunding billions of dollars in tariff payments to U.S. importers after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The total amount that must be returned to importers is estimated to be between $130 billion and $175 billion.

PHOTO © JERRY GLASER, USCBP