NEWS

By an 89 to 10 vote, the U.S. Senate approved the United States-Mexico-Canada Agreement (USMCA) on January 16. The bill now goes to President Trump for his signature before going into effect.

Resource:

CNBC: Senate passes new North American trade deal, sending it to Trump

The 96-page agreement signed on January 15 includes a commitment by China to purchase $200 billion more of U.S. goods - including hardwood lumber - and services, and an agreement to make new trade commitments. In return, the U.S. has agreed to cut tariffs in half, to 7.5%, on $120 billion of Chinese goods.

Resources:

Decorative Hardwoods Association (formerly HPVA) eNews Volume XIII, Issue I: Decorative Plywood Decision Draws Legal Challenge | U.S. Imports Of Hardwood Plywood Fall | Vietnam Orders Urgent Measures To Combat Trade Fraud | China Cuts Tariffs On Some U.S. Wood Products

China will publish a list of tariff reductions that include some wood product categories when a Phase I trade deal is signed between the U.S. and China later this month.

Resources:

AHEC's November/December European Market Report (PDF)