Another tariff on timber is expected to be implemented after President Donald Trump ordered Commerce Secretary Howard Lutnick to review the national security risks of timber imports under Section 232 of the Trade Expansion Act of 1962.
This could lead to higher tariffs on imported timber.
Previously, Canada and Mexico were expected to be subject to tariffs of 25%.
The review is expected to take 270 days.
To increase the domestic supply of timber in the United States (US) market, Trump has ordered faster approval of permits for logging on public lands and measures to restore fallen trees caused by natural factors.
At the same time, Trump also called for streamlined approvals under the Endangered Species Act that would allow for faster logging applications in those areas.
If implemented, these tariffs are expected to have a negative impact on home builders, which could push up housing costs.
