live U.S. launches Navy blockade of Iranian ports as Tehran vows retaliation- Tuesday 14 April
The U.S. military began a blockade of Iran's ports on Monday, President Donald Trump said, and Tehran threaten...
U.S. President Donald Trump signed an executive order on Saturday directing a new national security investigation into imported lumber under Section 232 of the Trade Expansion Act of 1962.
The probe, aimed at potentially imposing additional tariffs on imported lumber and its derivative products, comes as part of broader efforts to rebuild U.S. production of the critical commodity.
The order mandates that Commerce Secretary Howard Lutnick complete the investigation within 270 days. It covers not only raw lumber but also derivative products—such as kitchen cabinets—where U.S.-harvested lumber may be exported and then re-imported. In a related measure, Trump’s order calls for agency heads to implement new steps within 90 days to streamline the permitting process for harvesting timber from public lands and to enhance the salvage of fallen trees, aiming to increase the domestic supply of lumber.
White House trade adviser Peter Navarro emphasized that the probe is intended to counteract actions by major lumber exporters, including Canada, Germany, and Brazil, which he accused of “dumping lumber into our markets at the expense of both our economic prosperity and national security.” Any tariffs imposed as a result of the investigation would be added to existing duties, including a combined 14.5% anti-dumping and anti-subsidy tariff on Canadian softwood lumber. These tariffs stem from a longstanding U.S.-Canada dispute over Canada’s low stumpage fees on public lands—a practice Washington argues amounts to an unfair subsidy.
The new probe is the third tariff-related investigation ordered by Trump in the past week. It follows his directive earlier this month to launch a Section 232 investigation into copper imports and a separate order reviving investigations into tariffs on goods from countries imposing digital services taxes on U.S. technology companies. Trump has also threatened a 25% general tariff on all Canadian and Mexican goods unless those countries address border security and curb fentanyl trafficking.
A White House official underscored the national security risks posed by an increasing reliance on imported lumber, noting that the U.S. military consumes significant quantities of the commodity for construction projects, even though domestic supplies are ample. Home builders, however, have long criticized existing tariffs for raising lumber prices and contributing to home price inflation.
As the Commerce Department gears up to complete its investigation, industry watchers and policymakers alike will be closely monitoring the potential impact on domestic lumber production and U.S. trade relations with key partners.
At a time of deepening global polarisation, rising conflict and shrinking space for dialogue, Pakistan is stepping into a historic role. Diplomatic engagements in Islamabad, bringing together regional powers amid the Iran crisis, signal both urgency and opportunity.
U.S. President Donald Trump warned that any Iranian ships approaching ports in the Strait of Hormuz would be "immediately eliminated" on Monday, as the U.S. started its blockade.
The U.S. military began a blockade of Iran's ports on Monday, President Donald Trump said, and Tehran threatened to retaliate against its Gulf neighbours' ports after talks in Islamabad on ending the war broke down at the weekend.
Afghanistan’s Foreign Ministry said on Sunday that talks with Pakistan had been positive, while Türkiye stressed the importance of stronger ties between Kabul and Islamabad.
Centre-right Peter Magyar's Tisza Party has won a landslide in Hungary after a night of counting in the Hungarian election. Viktor Orbán has conceded defeat after 16 years in power. "We have done it. Tisza and Hungary have won this election", Magyar said to cheering supporters in Budapest.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
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