KCMA is committed to bringing you the latest news in the cabinet manufacturing industry. Take a look at what’s been happening:
Housing market shows first signs of trouble from pandemic
March started out as a strong month for the U.S. housing market, but by the second half of the month, the first indications that the coronavirus pandemic would impact home selling activity began to emerge. In the weeks ending March 21 and March 28, the number of newly-listed properties fell by 13.1% and 34% respectively when compared with the same period a year ago. This is an indication that home sellers may be holding off on listing their properties right now.
USTR Excludes more Chinese products from tariffs, including cabinets
The United States Trade Representative (USTR) has announced more tariff exclusions on Chinese products, including some wood cabinets with glass fronts. These were among the items that were hit with 25% tariffs last May. These new exclusions are retroactive back to September 14, 2018 and run through August 7, 2020. Companies are eligible for refunds from paid tariffs.
Chinese Cabinet Giant Officially Invests $86 Million in New North American Headquarters
Chinese cabinetmaker GoldenHome will officially invest $86 million in a new manufacturing plant and North American Headquarters near Charlotte, North Carolina. The facility will serve as the company’s North American outpost – featuring production, business operations, R&D, distribution, marketing and training. The investment will create 257 jobs over five years.
U.S. Department of Labor announces funding availability for State apprenticeship expansion grants
The U.S. Department of Labor announced the availability of $73 million in State Apprenticeship Expansion Grants aimed at expanding apprenticeships throughout the country. The grants will fund innovations aimed at using Registered Apprenticeship Programs (RAPs) as a tool for developing the economy and building infrastructure for apprenticeships as well as baseline activities that improve states’ ability to serve, improve and strategically scale RAPs.
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