Tariffs to take toll on US homebuyers

Additional duties will lead to higher prices for American consumers

The first representative from Beijing testifying at tariff hearings on the next $200 billion worth of Chinese goods said removing wood products from the proposed target list would shore up the interests of US businesses and help prevent American homebuyers from being priced out of the market.

In his testimony to the US trade representative's office on Tuesday, Wu Shengfu, vice-president of China National Forest Products Industry Association, said imposing additional duties of 25 percent on Chinese wood products would hurt US wood industries, while harming businesses in China.