The biggest issue the hardwood industry faces is loss in domestic consumption. International hardwood export, Michael Snow, comments on key issues in China, Vietnam from tariffs and trade wars to changing consumption patterns.
Assuming that Joe Biden is inaugurated as president in January 2021, what would a Biden presidency mean in terms of U.S./China trade relations? How would this be good or even bad for the U.S. hardwood sector?
Snow: I think the short answer is we just don’t know. I’m not sure we’re going to see any significant changes, at least initially.
China is not close to meeting their obligations under phase one of the trade agreement that was signed in early 2020. They’ve purchased far less U.S. goods than they agreed to purchase.