Trump Announces Tariffs Impacting Housing, Furniture, and Pharmaceuticals
President Trump announced tariffs of 10% on softwood lumber and 25% on kitchen cabinets and related wood products, effective from October 14, under Section 232, aiming to bolster domestic manufacturing and supply chains, with some rates capped for major economies. The move has mixed reactions, with industry groups warning of increased costs and potential harm to the housing and furniture sectors, while supporters see it as a measure to protect American jobs and industry.