Over the past few months, we’ve waited with bated breath as the U.S. and China trade war—initiated by the U.S. to balance trade with China—has gained momentum. For those in our industry who produce hardwood flooring, whether that be offshore in China or domestically, the impact of the 10 percent tariff on Chinese imports, and as a response from China, U.S. exports, has been sudden and direct. And just days away from 2019, the current U.S. administration is reportedly set to increase the import tariff to 25 percent at the start of the New Year.
While the current and potential future tariff has caused some uncertainty, particularly for U.S. mills that source their wood from or produce their products in China, there are also several opportunities for both offshore and domestic producers in light of the tariffs.