The White House and the EU commission announced further details of the framework agreement they signed which has significant consequences for lumber products. The important part of this new declaration for lumber is the following: "The United States intends to promptly ensure that the tariff rate, comprised of the MFN tariff and the tariff imposed pursuant to Section 232 of the Trade Expansion Act of 1962, applied to originating goods of the European Union subject to Section 232 actions on pharmaceuticals, semiconductors, and lumber does not exceed 15%." So what does this mean? The US is planning to apply ...