US and China sign ”Phase One” agreement; hardwood lumber included in the deal

U.S. and China formalised a limited trade agreement last week, signalling a truce in the nearly two-year trade war between the world’s two largest economies.

According to the U.S. National Hardwood Lumber Association (NHLA), the “Phase One” agreement calls for China to boost its purchase of American goods and services by $200 billion over the next two years, including $32 billion worth of agriculture products.

As NHLA reports, in the White House fact sheet that was released at the signing ceremony, hardwood lumber is specifically called out as part of the Chinese purchasing agreement of U.S. manufactured goods. The fact sheet may be found here.

In the actual trade agreement text, hardwood lumber products are again highlighted under “Other Manufactured Goods.” In addition, the table on Page 6-11 includes all of the of 400 level Harmonized System Codes for hardwood lumber. The text can be found here.

Details about how the Chinese will facilitate purchases (tariff reductions, exclusions) are still to be announced.

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