The U.S. and China have agreed to “phase one” of a trade agreement, in which China will import an additional $200 billion worth of U.S. goods, including wood flooring, over the next two years.
The U.S. and China have agreed to “phase one” of a trade agreement, in which China will import an additional $200 billion worth of U.S. goods, including wood flooring, over the next two years.
The agreement was signed Jan. 15. Wood flooring products listed under the agreement include the following:
“Wood (including strips and friezes for parquet flooring, not assembled) continuously shaped (tongued, grooved, rebated, chamfered, V-jointed, beaded, molded rounded or the like) along any of its edges, ends or faces, whether or not planed, sanded or end-jointed.”
“Builders’ joinery and carpentry of wood, including cellular wood panels and assembled flooring panels; shingles and shakes.”
“Machine tools (including machines for nailing, stapling, gluing or otherwise assembling) for working wood, cork, bone, hard rubber, hard plastics or similar hard materials.”
How China will facilitate the purchases has yet to be announced, according to the Hardwood Federation.
The full “phase one” trade agreement, shared by the Hardwood Federation, can be found here.
The highly anticipated deal was more than two years in the making. The U.S.’s tariffs remain in place for now, with President Trump saying he will remove all tariffs if the U.S. and China reach an agreement on the next phase of the trade deal, according to The New York Times.
