NEW ZEALAND — News that US President Trump imposed a tariff of 10 percent on imported timber has come as a relief to industry, which expected a higher figure. Mark Ross, chief executive of the Wood Processors and Manufacturers Association, said it was a relief as they thought it would be higher. “We’ve been working through the essential impact of a tariff on our products since March this year so it wasn’t a shock because we were, at one point, expecting a 50% tariff. “So 10% is a bit of relief. It is still going to have a financial impact on the wood processing industry in New Zealand. …Ross said they were working with exporters to work out how to handle the extra costs. …Ross said the United States was New Zealand’s third-largest export market and continued to grow.

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