Submitted by lfisher on Tue, 09/24/2019 - 14:33
INDUSTRY NEWS UPDATE SEPT 24, 2019

KCMA regularly tracks what's going on in the cabinet industry - check out our latest post below for the latest updates:

WELLBORN CABINET TO JOIN FIRST MADE IN AMERICA EXHIBIT

Wellborn Cabinet is set to exhibit at the first-ever Made in America 2019 event in Indianapolis, Indiana October 3-6, 2019.  This event champions American-made products and manufacturing on a national level. The event will showcase the largest collection of US made machines and products ever in one place.

“Wellborn Cabinet is taking part in this event because it is the first trade show to ever focus on American-made products. Wellborn Cabinet is proud to support and be recognized as a brand of products you can trust for quality and service," the company said.

Click here to read more.

EPA SETTLES FIRST ENFORCEMENT ACTION UNDER FORMALDEHYDE RULE

Earlier this month EPA announced that it settled the first enforcement action brought under the Formaldehyde Emissions for Imported Composite Wood Products Rule.

The case involved a construction company that imported cabinets for an apartment building.   The cabinets were built to EU formaldehyde emission limits, which differ somewhat from the U.S. limits. The company agreed to pay a penalty of $544,064 and to take corrective actions to come into compliance.
 
This case shows the importance of communicating with foreign (or domestic) suppliers to ensure that they are meeting all applicable U.S. standards for formaldehyde in composite wood products.

Click here to read more.

KCMA

TRUMP INCREASES TARIFFS ON CHINESE GOODS
Last week President Trump announced another new set of tariffs in response to China’s retaliatory tariffs on more than 5,000 US goods including hardwood lumber, logs, and veneer exports. 
 
The US will increase existing duties on $250 billion in Chinese products from 25 percent to 30 percent on October 1. In addition, the $300 billion in Chinese goods set to be tariffed at 10 percent beginning September, will increase to 15 percent.
 
President Trump urged American companies to begin looking for alternative options to China, including bring their operations back to the U.S.

Click here to read more.

kcma


ECONOMIC UPDATE

  • New durable goods orders increased 2.1% in July.
  • The U.S. economy grew 2.0 percent at the annual rate in the second quarter.
  • The IHS Markit Flash U.S. Manufacturing PMI contracted slightly in August from 50.4 July to 49.9.
  • Existing home sales were up 2.5 percent in July, the best reading since February.
  • 30 year mortgage rates fell in August to 3.62%.

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