Source: The Hill
02/20/25 11:07 AM ET
President Trump is considering imposing a 25 percent tariff on international lumber and wood products, looking to add another item to an expanding list of products under duties.
"I'm going to be announcing tariffs on cars and semiconductors and chips and pharmaceuticals, drugs and pharmaceuticals and lumber, probably, and some other things over the next month or sooner," Trump said Wednesday at a Future Investment Initiative Institute summit.
"It's going to have a big impact on America, We are bringing our businesses back. If they don't make their product in America then they will very simply have to pay a tariff, but if they do make their product in America, they don't have to pay any tariff," he added. While traveling back to Washington on Wednesday, Trump told reporters on Air Force One he was thinking about imposing the 25 percent rate in April.
Earlier this week, Trump indicated he was also looking to implement a 25 percent tariff on automobiles, semiconductors and pharmaceuticals in April, a rate that could increase over the year. "But we want to give them time to come in," Trump told reporters at Mar-a-Lago in Palm Beach, Fla., on Monday. "Because as you know when they come into the United States and they have their plant or factory here, there is no tariff. So we want to give them a little bit of a chance."
Read more: https://thehill.com/homenews/administration/5155132-trump-lumber-wood-tariffs/