US President Donald Trump has launched a new investigation into imported lumber, which could lead to additional tariffs on these imports.
As per Reuters, this would add to the existing tariffs on Canadian softwood lumber and the upcoming 25% tariffs on all goods from Canada and Mexico.
Trump has launched his third tariff investigation in a week.
He signed a memo instructing Commerce Secretary Howard Lutnick to investigate US lumber imports on national security grounds.
This investigation is being conducted under Section 232 of the Trade Expansion Act of 1962.
As per the outlet, this law allows US to impose tariffs if imports are seen as a threat to national security.
Trump previously used it to impose tariffs on steel and aluminium.
The investigation includes not only raw lumber but also products made from it, like furniture and kitchen cabinets.
Some of these products are made from US lumber that was first exported and then re-imported.
The Commerce Department has 270 days to complete the investigation, after which it could recommend new tariffs if imports are found to harm national security.
Moreover, Trump has directed new measures to increase the domestic supply of lumber within 90 days.
