The American President Donald Trump is Imposing Import Tariffs of 10 percent on Wood and Lumber and 25 percent on Kitchens, Bathroom Furniture, and Upholstered Furniture. He is using a law that allows tariffs for the sake of American security.
The import of these and a number of other goods would endanger the security of the us. Trump is using a law from 1974 for this.
The rates will take effect on October 14 and will be inceased again on January 1 for Certain Countries that do not reach a deal with the us. Then it will be 30 percent for upholstered Wood and 50 percent for Kitchen Cabinets and Bathroom Furniture.
This announcement is now the first in an expected series of three sectors that trump announced last week he would hit. The Other Two Are Medicines and Heavy Trucks. The American President First Said That The Levies would take Take Effect on October 1. For Wood, That Now Appears to Be October 14.