NEWS

Hardwood plywood imports continue to grow rapidly in 2024 despite soft U.S. markets. The value of U.S. imports from Vietnam rose by nearly 60% year-to-date through September while volume grew by more than 88%. Imports from Indonesia grew by more than 20% in value and volume.

The Hardwood Federation is assessing how the return of the Trump administration will affect trade and exports, particularly U.S. exports to China. Many in the industry remember the effect of retaliatory tariffs imposed by China on U.S. lumber and are concerned about how a new round of tariffs will impact hardwood lumber and log exports, while benefitting hardwood plywood and engineered wood flooring.

PHOTO © JERRY GLASER

Sales of cabinets continued to fall in October. Sales volume was down 13.3% in October 2024 vs. October 2023. The volume of cabinet sales has fallen by 6% year-to-date, while the dollar value fell by 2.8% year-to-date.

Read more: October Trend of Business Report →

President-elect Trump has threatened to impose a 25% tariff on all products entering the U.S. from Canada and Mexico as one of his first executive orders, designed to force Canada and Mexico to address illegal immigration and the flow of fentanyl across U.S. borders. Canadian Prime Minister Trudeau already met with Trump to discuss the issue. Trump has also proposed an additional 10% tariff on imports from China.

PHOTO © US CUSTOMS AND BORDER PROTECTION

Decorative Hardwoods Association (formerly HPVA) eNews Volume XVII, Issue XXII: EU Votes To Delay EUDR | Hardwood Federation Candidates Win In A Landslide | CARB Proposes Formaldehyde Rule Changes | Commerce Issues Final Ruling On Cabinet Duties