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September 30, 2019
US hardwood sees collapse in demand and drop in prices due to trade war with China
Lumber mills in the U.S. have been a casualty of President Trump's trade war with China, as a significant dip in demand has pushed hardwood lumber prices down. Many US hardwood lumber firms have seen reduced demand, and have had to make cutbacks and eliminate jobs. Gutchess Lumber, Baillie Lumber, and Northland Corp. all told the Wall Street Journal that demand has decreased from the same time last year. Baillie and Northland have been forced to lay off workers. Gutchess reduced overtime and suspended 401(k) contributions.   ...
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