INDUSTRY NEWS UPDATE

The Kitchen Cabinet Manufacturers Association has its finger on the pulse of the cabinet industry. We know the industry, because we are the industry. Check out what’s been happening since our last update:

U.S. & China Agree to Delay Tariff Increases

A few weeks ago President Trump met with Chinese President Xi at the G-20 Summit in Argentina. At that meeting both leaders agreed to pause the bilateral trade war and the two countries will not implement the additional tariffs on each other's goods that were set to begin on January 1.

As you may recall, President Trump was set to raise Tariffs on January 1 for $200 billion worth of products (included three HTS codes related to the cabinet industry) from 10% to 25%.
"Both parties agree that they will endeavor to have (these talks) completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent," the statement added. "China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries.”

Read the full statement here.

OSHA Tips for a Safe Workplace This Winter
Winter is coming and with it, the hazards of outdoor work in cold and weather-related conditions. The Occupational Safety & Health Administration (OSHA) released several tips for avoiding worker hazards this winter:
  • Clearing Snow From Roofs and Working at Heights - Employers must evaluate snow removal tasks for hazards and plan how to do the work safely. Workers should be aware of the potential for unexpected hazards due to weather conditions.
  • Preventing Slips on Snow and Ice - To prevent slips, trips, and falls, employers should clear all walking surfaces of snow and ice, and spread deicer, as quickly as possible after a winter storm.
Read more tips from OSHA here.

Photo courtesy of OSHA.gov

Canadian Purchases of US Sawmills Could Drive Lumber Prices Highers

Last month, Canadian company Canfor Corp. announced it entered into an agreement to purchase Elliott Sawmilling Co., Inc. (based in South Carolina) for a purchase price of $110 million.
 
Gene Wengert, the Wood Dr., believes that this and other purchases may lead to additional shortages of lumber used in home construction in the U.S. “Southern pine is extremely strong and is desired worldwide for construction of trusses for homes and other wood-framed buildings,” he said. "With the large number of southern pine sawmills purchased by Canadian firms, and when the price is favorable, we can expect, with the Canadian expertise in exporting, that exports of southern pine lumber will increase."

Read the full piece in Woodworking Network.



Congrats to the 2018 Wood 100 Winners!
The 2018 Wood 100 is an annual report that details the successful strategies put in place by 100 North American secondary wood and panel products manufacturers to grow their businesses in the furniture, cabinetry, architectural woodwork, store fixture, components and other industries.

KCMA is proud to see several members included in the list this year! Click here to check it out.

Photo courtesy of Woodworking Network.
Economic Updates

US consumer confidence dropped slightly in November to 135.7 from an 18-year high of 137.9 in October.

Home-price gains slowed in September for sixth consecutive month.

Builder confidence in the market for newly built single-family homes dropped 8 points to 60 in November.

Total housing starts rose 1.5% in October to 1.23 million units.


-------



KCMA is always on the lookout to bring you the latest news and advocate for you in the industry. If you would like to learn more about being a member of KCMA and getting access to exclusive member news, insights, research and webinars visit our website.

Comments

Popular posts from this blog

2019 Predictions - Kitchen Design Trends

2019 Predictions - Cabinet Color Trends