Payam Javan: Former President Donald Trump announced on Feb. 19 that his administration would soon impose tariffs on lumber and other forest products, alongside previously proposed tariffs on automobiles and pharmaceuticals. Speaking at an investment conference in Florida, Trump stated that the tariffs, expected to take effect around April 2, are intended to encourage domestic production and bring foreign businesses back to the United States. He emphasized that companies manufacturing in America would avoid tariffs, while those producing abroad would face significant costs. Trump had previously suggested tariffs of at least 25 percent on various imported goods, including semiconductors, with potential increases over time.

The move has sparked mixed reactions from lawmakers and international trading partners. Trump’s reciprocal tariff policy, introduced in an earlier executive order, aims to match the import duties imposed on U.S. goods by other countries. Critics, including Sen. Jack Reed (D-R.I.), argue that such measures raise consumer prices and burden small businesses. Meanwhile, supporters like Sen. Pete Ricketts (R-Neb.) defend the tariffs as a means of balancing trade disparities, pointing out that U.S. imports are taxed at a lower average rate compared to American exports. Some companies, including Nissan, have indicated they may relocate production to the U.S. to avoid the tariffs. Trump also reiterated threats of imposing tariffs on Mexico and Canada over immigration and drug trafficking concerns but has temporarily postponed those measures following discussions with officials from both countries.