New Day, new tariffs from Marketplace. I'm Sabrina Bennishoor in for David Brancaccio,

foreign soft timber and wood products. Those are the latest goods to get tariffs from the White House.

The Trump administration announced these new import taxes yesterday. The rationale was

national security. The administration also released more details on a string of new tariffs

President Trump announced in social media post last week. Marketplace's Nancy Marshall Genser reports.

A White House proclamation says there will be a 10% tariff on timber and lumber imports and 25% import

taxes on wooden furniture, vanities, and kitchen cabinets.

This will all take effect October 14th.

On January 1st, the furniture tariff rises to 30%, and the vanity and cabinet tax increases to 50%.

There are carveouts.

The White House says tariffs on wood products from Britain will be capped at 10%,

with a limit of 15% for wood imports

from the EU in Japan.

The White House says these tariffs are necessary for national security and imports have

increased lumber mill closures in the U.S.

The National Association of Home Builders, though, says higher lumber tariffs will increase

housing costs.

I'm Nancy Marshall Genser for Marketplace.

President Trump and congressional leaders were unable to come to a deal yesterday to avoid a government shutdown,

which, barring some other last-minute deal would take effect tonight at midnight.

Markets did not care about the shutdown until they did, at least a

little bit. Let's do the numbers. Dow, S&P, and NASDAQ futures are all down in the 2-3-10th percent

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