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International Business Times
International Business Times
Business

Trump Tariffs On Timber, Furniture Take Effect

US President Donald Trump's latest action brings duties on Canadian lumber to 45 percent (Credit: AFP)

US President Donald Trump's fresh tariffs on imported wood, furniture and kitchen cabinets took effect Tuesday, a development likely to fuel building costs and pile pressure on homebuyers in an already challenging market.

The duties were imposed to boost US industries and protect national security, according to the White House, and they broaden a slate of sector-specific tariffs Trump has imposed since returning to the presidency.

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