Last week, leaders of the Pennsylvania Forest Products Association (PFPA) met with PA Republican Senator, Pat Toomey, to discuss escalating trade tensions with China.
According to Bloomberg, China has proposed a retaliatory tariff of up to 25% on all U.S. hardwood shipments. In the meeting, Nicholas Bisaccia of Bingaman and Son Lumber, Inc., made it clear that Pennsylvania lumber exporters are already feeling the impact of these proposed tariffs. Using his company as an example, Bisaccia noted that Bingaman and Son Lumber, Inc. has had 50 orders cancelled in the past month alone and that they've had to return $40,000 in deposits.
We'll keep you updated with any future developments to this story. In the meantime, you can learn more by watching this video recap of the meeting, reading this article on Bloomberg, or checking out PFPA's Instagram post.