Lutnick confirmed that tariffs on Canada and Mexico will start March 4, but said Trump will determine whether to stick with the planned 25% level, Reuters reported.
Wood Markets News
President Trump Orders Investigation Into Lumber and Timber Imports Ahead of Tariffs
Trump ordered the Commerce Department to launch an investigation into the national security harm posed by lumber imports, Bloomberg reported.
US Home-Purchase Agreements Fall Through at an Elevated Rate in January
41,000 home-purchase agreements fell through in January, equal to 14.3% of the homes that went under contract during the month, Redfin reported.
Canadian Real GDP Increases 0.6% in Q4
Real GDP increased 0.6% on a quarterly basis in Q4, after increasing 0.5% in Q3.
US Personal Income and Outlays for January
Personal income increased 0.9%, disposable personal income increased 0.9%, and personal consumption expenditures decreased 0.2%.
USDA Announces Public-Private Partnership With Sierra Pacific Industries on Wildfire Prevention
The USDA announced a $75 million agreement for the construction and maintenance of fuel breaks on national forests in California and Oregon.
Tom Schultz Named Chief of USDA Forest Service
Tom Schultz will serve as the 21st chief of the US Forest Service. He will replace Randy Moore, who recently announced his retirement.
US National Interagency Fire Center Wildfire Update as of February 28
21 new large fires were reported during the week, with the majority located in the Southern Area and the rest in the Rocky Mountain Area.
President Trump Says Tariffs on Canada, Mexico, and China Will Be Implemented on March 4
Posting on Truth Social, Trump said he plans to impose 25% tariffs on Canada and Mexico starting March 4, the AP reported.
US 30-Year Mortgage Rates Decline to Lowest Level in Over Two Months
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.85%, Freddie Mac reported.