The Hardwood Federation is petitioning the federal government to include the hardwood industry in a financial relief package being prepared for farmers, ranchers and other industries negatively impacted by the ongoing trade war with China.
The Trump administration is preparing to announce the aid package, which could be administered May 23 and could exceed $15 billion, according to the Federation.
The Hardwood Federation sent a letter to USDA Secretary Sonny Perdue asking that hardwoods be included on the list of U.S. commodities slated to receive the aid. On May 10, the U.S. increased tariffs on $200 billion worth of Chinese goods, including hardwood products, to 25%; China retaliated three days later with similar tariffs.
“Domestic mills have suffered sharp sales declines of export sales, lost jobs and even completely closed operations,” the Hardwood Federation said in a statement.
The domestic hardwood products industry generates $136 billion in annual income and supports more than 685,000 jobs, according to the Federation. Over the past three quarters, hardwood exporters lost $153 million per quarter due to the 10% tariffs imposed in September 2018, the Federation added, and losses are expected to accelerate following the recent increase to 25% tariffs.
The Hardwood Federation called on those in the industry to also petition Congress to include the hardwood industry in the aid package. Messages to Congress can be sent here.
