President Trump announced he would pause implementation of tariffs on Mexico and Canada for 30 days, AP reported.
Wood Markets News
Southeast Timber Products Announces $120 Million Expansion of Its Ackerman, MS, Sawmill
Southeastern Timber Products plans to invest more than $120 million to expand its sawmill in Ackerman, Mississippi, WTVA reported.
Canadian Sawmill Production and Shipments Decline in November
Canadian lumber production declined 6.0% to 3,996.8 thousand cubic meters. Year-over-year, production was down 10.9%.
US Construction Spending Rises 0.5% in December
Total construction spending in December was estimated at rate of $2,192.2 billion (SAAR), 0.5% above the revised November estimate.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in December
Brazilian exports of wood-based products (excluding pulp and paper) rose 14% in value year-over-year in December, ITTO reported.
Rettenmeier Holding Acquires Large Share of Insolvent Ziegler Group’s Operations
The timber group Rettenmeier Holding has acquired the sawmill and other significant parts of the wood processing division of the insolvent Ziegler Group, BR24 reported.
US Multifamily Recovery Gained Momentum in Q4; Expectations High for Q1
CBRE reported that positive net absorption reached 183,600 units in Q4, the strongest fourth quarter performance on record.
US Imposes 25% Tariffs on Imported Products From Canada and Mexico and 10% Tariff on China
President Trump announced that he is imposing tariffs on imports from Canada, Mexico, and China, Reuters reported. The new tariffs take effect on February 4.
US Personal Income and Outlays for December
Personal income increased 0.4% in December; disposable personal income increased 0.4%; and personal consumption expenditures increased 0.7%.
Mexico’s First Predominantly Mass Timber Structure Completed
Architectural studio PPAA has unveiled the first building in Mexico with a structure constructed of predominately mass timber, according to a feature by Dezeen.