Timber and lumber exports to US hit by new tariffs

Timber and lumber exports to US hit by new tariffs
(Image: BusinessDesk)
Rebecca Howard
A new tariff of 10% on most New Zealand timber and lumber exported to the United States will impact the industry, the Wood Processors and Manufacturers Association said.Earlier this week, US President Donald Trump said he agreed with the Secretary of Commerce’s assessment that “the present quantities and circumstances of the imports of wood products threaten to impair the national security”.The new tariff comes into play on Oct 14 and will impact 90% of NZ’s lumber exports.Timber was previously exempt from New Zealand&rs...