Lumber futures climbed sharply after President Donald Trump announced fresh tariffs on imported wood products, citing national security concerns. Futures rose nearly 3% to $611 per thousand board feet, approaching a six-week high. Starting Oct. 14, the U.S. will impose a 10% tariff on softwood lumber and timber imports and 25% on kitchen cabinets, vanities, and upholstered wood products. Some levies are set to rise to as much as 50% in January 2026. The tariffs add to already high duties on Canadian lumber, which currently exceed 35%. Trump’s executive order stated that present import volumes ...
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