Trump announced a 90-day pause on the steep tariffs announced last week, opting instead for a lower 10% universal tariff, Fortune reported.
Wood Markets News
EU Launches First Countermeasures in Response to US Metals Tariffs
The EU will launch its first countermeasures next week in response to US tariffs, joining China and Canada in escalating the global trade conflict, Reuters reported.
US Intercepts Cargo Infested With Asian Long-Horned Beetle Larvae in Port Huron, MI
CPB intercepted a highly invasive wood-boring beetle before it could destroy US forest and ecosystems, UPI reported.
Mortgage Applications Increase in the Week Ending April 4
Mortgage loan application volume increased 20.0% on a seasonally adjusted basis from one week earlier, MBA reported.
New Mass Timber Center at the University of Victoria to Open This Summer
The University of Victoria’s new National Center for Indigenous Law features a mass timber design, the Journal of Commerce reported.
FEA: Implications of the New Tariffs on the US Economy and Wood Products Sector
Analysis from FEA’s Brendan Lowney: “New Tariffs Will Have Massive Effects on the US Economy; North American Wood Products Sector Will See Few Direct Effects”
Arbitrator Rules on New Contract Between CN and the Teamsters Canada Rail Conference
An arbitrator released his decision on a three-year contract between the Teamster Canada Rail Conference and CN, which runs from January 2024 to December 2026, FreightWaves reported.
MBA Mortgage Credit Availability Index Increases for Fourth Consecutive Month in March
The MBA Mortgage Credit Availability Index (MCAI) rose 2.5%, reaching a reading of 102.9 in March.
As More US Multifamily Units Are Absorbed, Rental Market Fundamentals Stabilize
US apartment demand was well above average in Q1, helping to push market fundamentals back toward more typical levels, RealPage Market Analytics reported.
NFIB Small Business Optimism Index Retreats for Third Consecutive Month in March
The NFIB Small Business Optimism Index declined 3.3 points to 97.4 in March, slipping just below the 51-year average of 98.