Iran's Pezeshkian says Tehran seeks peace, but will not bow to coercion
Iranian President Masoud Pezeshkian stated on Friday that while Iran seeks peace, it will not be pressured into abandoning its nuclear and missile pro...
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.
The Champions League match between Qarabağ FK and Chelsea ended 2–2 at the Tofig Bahramov Republican Stadium in Baku, Azerbaijan on Wednesday (5 November).
More than 10,000 supporters of Serbian President Aleksandar Vucic rallied in Belgrade on Wednesday to show their backing for the populist leader’s policies, following a year of anti-government demonstrations.
Dutch smartphone maker Fairphone is entering the U.S. market, betting on growing demand for repairable and sustainable devices as right-to-repair legislation gains traction, according to Reuters.
U.S. President Donald Trump personally urged Chinese leader Xi Jinping to release imprisoned Hong Kong media tycoon Jimmy Lai during their meeting in South Korea last week, according to three individuals briefed on the discussions and a U.S. administration official.
U.S. Senate Republicans have blocked a resolution that would have barred President Donald Trump from launching military action against Venezuela without congressional approval, despite growing concern over recent U.S. strikes in the southern Caribbean.
Despite promises of recovery from the new government, Germany’s economy continues to stagnate, with no signs of renewed momentum. According to the latest report from the German Chamber of Industry and Commerce (DIHK), the country still lacks the drive needed for a genuine economic rebound.
Türkiye’s benchmark BIST 100 index ended Thursday up 0.94%, closing at 11,073.27 points. Opening the day at 11,029.29, the index gained 102.9 points compared with the previous close.
Dutch smartphone maker Fairphone is entering the U.S. market, betting on growing demand for repairable and sustainable devices as right-to-repair legislation gains traction, according to Reuters.
Premier Li Qiang said on Wednesday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the world as trade restrictions rise globally.
Jamaican Prime Minister Andrew Holness on Tuesday said that last week's Hurricane Melissa, the strongest-ever storm to hit its shores, caused damage to homes and key infrastructure roughly equivalent to 28% to 32% of last year's gross domestic product.
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