Trump Imposes New Tariffs on Lumber and Kitchen Products

President Donald Trump has implemented a new series of tariffs targeting imported lumber and home furnishing goods. According to the official proclamation signed on Monday, the tariffs will impose a 10% levy on lumber imports and a 25% tariff on vanities, kitchen cabinets, and upholstered wooden goods.

The White House detailed that these initial rates will take effect from October 14. However, if countries fail to negotiate favorable terms with the United States, the stakes will rise significantly by January 1, with levies increasing to 30% on upholstered wooden products and 50% on kitchen cabinets and vanities.

This move underscores the administration's aggressive trade stance, potentially affecting international trade relations and impacting the domestic market for these goods.

(With inputs from agencies.)