The U.S. House of Representatives passed legislation that would end normal trade relations with Russia.<\/p>\n
The result is that tariffs on Russian birch plywood would increase from zero to 40\u201350%. The Senate is likely to take action quickly, followed by President Biden signing the bill into law. Tariffs would go into effect immediately,\u00a0the Decorative Hardwoods Association reported.<\/p>\n
According to\u00a0the Hill, lawmakers voted 424 to 8 in favor of legislation to raise tariffs on goods from Russia and Belarus and give President Biden power to impose even stricter import taxes on their exports amid the ongoing invasion of Ukraine. The eight lawmakers who voted against the bill are all Republicans.<\/p>\n
The bill also sets up strict guidelines for when the president can restore normal trade relations with Russia and Belarus based on the state of the Ukraine war.<\/p>\n
In 2021, Russia was the U.S. third-largest source of hardwood plywood imports, exceeding 567 million square feet and with a value of more than $334 million. In addition, more than 653 million square feet of birch plywood was imported from Vietnam, with the source of the birch veneers coming from Russian harvest logs.<\/p>\n
Ten percent of U.S. hardwood plywood in 2019 was directly supplied by Russia. Indirectly, Russia may account for 20% of U.S. hardwood plywood consumption, as plywood manufactured by major producers like Vietnam and Indonesia may use logs harvested in Russian forests. Furthermore, Russian plywood may use illegal timber and be subject to penalties under the Lacey Act, says the Decorative Hardwoods Association.<\/p>","protected":false},"excerpt":{"rendered":"
The U.S. House of Representatives passed legislation that would end normal trade relations with Russia. The result is that tariffs on Russian birch plywood would increase from zero to 40\u201350%. The Senate is likely to take action quickly, followed by … Continue reading