Positive Signs For Wood Sector With Signing Of Trade Agreement

The trade agreement signed by President Trump and Chinese Vice Premier Liu He in January included a commitment by China to purchase a substantial amount of goods from the U.S. over the next two years.  Specifically, hardwood lumber was included in a list of manufactured goods altogether of which China will purchase no less than $120 billion this year and $131.9 billion in 2021.

Additionally, the two countries reduced some tariffs and cancelled others not yet in place.

China also released lists of products for which they will exempt certain eligible Chinese companies from having to pay higher tariffs for one year.  Hardwood logs and lumber and some softwood lumber products are included on these lists, with hardwoods also eligible for tariff refunds.

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