China trade war triggers closings, layoffs at US hardwood lumber mills

An employee looks at hardwood logs stacked in piles in the yard at Superior Hardwoods of Ohio Inc. in Barlow, Ohio. Ty Wright | Bloomberg | Getty Images

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It is hard times for the U.S. hardwood lumber industry. The trade war with China has caused a steep drop in U.S. exports of the product, and now the industry is cutting jobs.

China used to account for about half of all U.S. hardwood lumber exports, about $2 billion annually. The Trump administration’s 25% tariff cut through that demand.

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Source: CNBC

 

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