Sluggish Chinese economy affects global lumber market

Sluggish Chinese economy affects global lumber market

As a result of the Chinese economy going down and the trade disputes the country has with the U.S., the global lumber market slowed down significantly during the 2nd half of 2018.

The United States has cultivated a strong export market for lumber products in China. The American Hardwood Export Council (AHEC) predicted that in the near future 60 percent of American hardwood goods will be exported from the U.S., with 54 percent of exports bound for China.

In 2017, China imported $8.83 billion of total lumber products from the U.S., according to the World Bank. However, 2018 saw China impose a 10 percent retaliatory tariff on U.S. lumber products and threatened a larger 25 percent tariff on $60 billion of total U.S. goods.

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