The Department of Commerce says it has "preliminarily determined" that Chinese wood bedroom furniture manufactures dumped goods on the U.S. market, making "sales to the United States at prices below normal value." The multi-year investigation names more than three dozen China wood furniture manufacturers that will face retroactive tariffs from 16% to over 200%.
The news follows reports of profits for U.S. timber and lumber firms as exports to China rise. Weyerhaeuser and Plum Creek Timber each reported improved profits, with Asian exports a significant factor. Logs and lumber headed to Asia return as finished goods, and in the case of bedroom furniture, are sold below cost in the U.S. market.
This was a busy news week for the secondary wood manfucturing industry in the U.S. Among the top stories:
Blizzard of 2011 pummels wood firms too Lumber, furniture and cabinetry firms were among those pummeled by last week's massive winter storms. Video shows the collapse of a 150,000 sq.ft. cabinetry plant.>>
Huck Group closes two fixture plantsA Naples, FL manufacturer of store fixtures for Borders, Clinique and others, Huck Group closed two of its wood products manufacturing plants and put the contents up for auction.>>
Fire is final nail for furniture makerOxford Pine Products was destroyed by an early morning fire. The kicker for the struggling Norway, ME wood products firm: it had cancelled its fire insurance January 1.>>
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