U.S. President Donald Trump revealed on Wednesday that the U.S. is preparing to add a new wave of tariffs on lumber and other forest products, joining his broader strategy to levy duties on imports from multiple countries. This latest move, which could see tariffs of up to 25% on lumber, is expected to take effect as soon as April 2, alongside a similar tariff on imported automobiles.

Speaking from Air Force One as he returned to Washington after a speech in Miami, Trump confirmed that lumber will be among the next targets of U.S. tariffs. “We are looking at imposing tariffs on a number of goods – cars, semiconductors, pharmaceuticals, and, yes, lumber,” Trump said. “The 25% tariff on lumber is likely to take effect in the next month or sooner.”

The tariff, which is expected to bring in significant revenue, will impact a broad range of forest products imported to the U.S. from countries across the globe. Trump emphasized that the tariffs are designed to support American industries, particularly in sectors where the U.S. has experienced trade imbalances.

“We need to level the playing field,” Trump added. “These tariffs will generate billions in revenue for our country, and we’re offering countries a chance to avoid them if they remove their tariffs on U.S. products.”

With the lumber tariffs, the U.S. is targeting one of the world’s most traded commodities. Lumber is critical to industries such as construction and manufacturing, and the move is expected to raise costs for businesses in those sectors. While some U.S. businesses have welcomed the push for tariffs on foreign goods, others warn that the resulting price hikes could hurt consumers and stoke inflation.

(Source: Global Woods Markets Info)