Trump sets 10 percent tariffs on lumber imports, 25 percent on cabinets, furniture

President Trump's recent decision to impose a 10 percent tariff on lumber imports and a 25 percent tariff on furniture, including cabinets and vanities, has raised concerns among industry experts. This move is seen as a significant step that could impact the housing market and increase costs for consumers. By labeling lumber as a 'critical' industry for national security and economic strength, Trump is emphasizing the importance of domestic manufacturing, but critics argue that these tariffs could lead to higher prices and retaliatory measures from trading partners.