Positive reactions in Europe as new US Executive Order appears to remove tariffs on some pulp imports

Fastmarkets2025-09-12

Key takeaways: The US has updated the Executive Order to add and remove certain products from tariff exemptions, which could mean some pulp grades are exempt The change would be welcomed by European ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPositive reactions in Europe as new US Executive Order appears to remove tariffs on some pulp imports\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-12 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fastmarkets.com/insights/us-remove-tariffs-on-some-pulp-imports/><strong>Fastmarkets</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key takeaways:\n\nThe US has updated the Executive Order to add and remove certain products from tariff exemptions, which could mean some pulp grades are exempt\nThe change would be welcomed by European ...</p>\n\n<a href=\"https://www.fastmarkets.com/insights/us-remove-tariffs-on-some-pulp-imports/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BHK","symbol_name":"黑岩核心债券信托","start_time":0,"source_url":"https://www.fastmarkets.com/insights/us-remove-tariffs-on-some-pulp-imports/","article_id":"2566976729","we_media_id":null,"thumbnails":[],"rights":{"source":"fastmarkets_highlight","url":"https://www.fastmarkets.com/insights/us-remove-tariffs-on-some-pulp-imports/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2566976729","pubTimestamp":1757649600,"columns":[],"sourceInfo":{"source_id":"fastmarkets_highlight","name":"Fastmarkets"},"weMediaInfo":null,"summary":"Find out how recent changes to tariffs on pulp imports could affect European producers and the woodpulp market overall.","collect":0,"end_time":0,"defaultTopTitle":"fastmarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BHK":"黑岩核心债券信托"},"translate_title":"美国新行政命令似乎取消了部分纸浆进口关税，欧洲反应积极","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHK":1},"content_text":"Key takeaways:\n\nThe US has updated the Executive Order to add and remove certain products from tariff exemptions, which could mean some pulp grades are exempt\nThe change would be welcomed by European pulp producers, who would face lower tariffs on pulp exported to the US\nThe news has been met with cautious optimism from the European market, with many stating they won’t celebrate too early in the process\n\nThe US has updated the list of products that are exempt from reciprocal tariffs, adding three types of woodpulp, indicating that some pulp imports may now be tariff free. \nEuropean pulp producers reacted with cautious optimism when speaking with Fastmarkets, but said they would seek further confirmation and clarification before celebrating.\nWant to know more about the US/EU tariff deal? Watch Fastmarkets price reporter Andrea Venturini answer your questions.\nIn an Executive Order published on Friday September 5, US President Donald Trump said that after considering “information and recommendations” provided by officials, he had “determined that it is necessary and appropriate to modify Annex II to Executive Order 14257,” which was published on April 2.\nThis update adds certain products to Annex II and removes others, with the modifications coming into effect on Monday September 8.\nThe additions include softwood unbleached kraft pulp (UKP) (HS code 47.03.11.00) and semi-bleached and bleached softwood kraft (BSK) pulp and semi-bleached and bleached hardwood kraft (BHK) pulp (HS codes 47.03.21.00 and 47.03.29.00 respectively).\nAccording to a fact sheet published by the White House, the addition of goods to the list means “they will no longer be subject to reciprocal tariffs.”\nNot mentioned in the updated Annex II are bleached chemi-thermomechanical pulp (BCTMP), hardwood UKP, sulfite pulp and dissolving pulp, which suggests that existing tariffs remain for them.\nThe goods removed from Annex II include certain aluminium hydroxide, resin and silicone products, and these are now subject to reciprocal tariffs, according to the fact sheet.  \nThe White House has also published a Potential Tariff Adjustments for Aligned Partners (PTAAP) Annex, containing a list of products for which Trump “may be willing to apply only the Most-Favored-Nation (MFN) tariff upon the conclusion of any future reciprocal trade and security deal.”\nProducts on this list include “certain aircraft and aircraft parts; certain generic pharmaceuticals and their ingredients; unavailable natural resources and closely related derivative products; and certain agricultural products not grown or produced in sufficient quantity in the United States to meet domestic demand.”\nGood news for European NBSK\nThe recent development is most relevant for BHK imports from Latin America, which have been facing a tariff of 10%, and BSK imports from the EU, which have been tariffed at 15%, Patrick Cavanagh, Fastmarkets senior pulp economist, said.\n“Canadian pulp producers, which have been exempt from pulp tariffs under the USMCA [United States-Mexico-Canada Agreement], will now face a more level playing field from offshore importers,” Cavanagh noted.\nThe US imported some 5.95 million tonnes of pulp in 2024, of which 2.8 million tonnes was BHK (85% from Brazil, 11% from Uruguay, 4% from Canada) and 2.42 million tonnes was BSK (81% from Canada, 11% from Sweden and 8% from Finland), according to Global Trade Tracker and Fastmarkets analyses.\nLast year, European producers exported some 466,000 tonnes of BSK pulp to the US, up from 369,000 tonnes in 2023. Europe-to-US exports of other pulp grades, such as sulfite pulp, mechanical pulp and hardwood pulp, are significantly smaller.\n“The US exemption of tariffs on NBSK [northern bleached softwood kraft pulp] from Sweden and Finland will be welcome news for pulp producers already facing headwinds from cyclically low pulp prices and a stronger krona and euro that are boosting dollar-denominated production costs,” Cavanagh said.\n“The resulting margin compression has already triggered temporary closures in the region as producers work to counteract a high level of producer inventories with market-related downtime,” he added.\nUS imports of BSK from Europe have still increased this year, despite the implementation of a 10% import tariff during April-July, followed by an increase to a 15% tariff in August, Cavanagh pointed out.\nIn the first seven months of 2025, BSK imports from the EU stood at 289,000 tonnes, up by 39,000 tonnes or nearly 16% compared with the same period the year prior.\nCautious optimism in Europe\nSeveral sources active in the European pulp market were still looking into the news when they spoke with Fastmarkets on Tuesday September 9, and they reacted with a mix of optimism and skepticism.\n“It sounds amazing,” one NBSK producer said. “We have interpreted this like, with some luck, there might not be any import tariffs. But I don’t dare celebrate in advance.”\nAnother NBSK producer said their company believed this news made their product tariff exempt, calling it an “early Christmas present from Mr. Trump.”\n“On the one hand, this feels very positive, until you remember that he’s only going back to normal. He hasn’t changed anything,” the second NBSK producer said, adding: “If this really applies, if it’s true and if it’s permanent, it can be tremendously positive news for all forest and pulp and paper companies in Europe, particularly in Scandinavia.”\nA European pulp buyer said: “If this is true, then I expect it to increase exports of European softwood pulp.”\nOne of the NBSK producers took a similar view, saying that US customers that had been looking for tariff-free pulp might pause this and stick with their European suppliers.\nBut all sources remained cautious, saying they still needed to look into the details.\n“A while ago, Trump wanted 50% tariffs on Brazil and now we’re talking about 0%. It swings quite a lot,” one source said.\nAnother one added that clarification would be needed both from authorities and pulp buyers.\n“We need to discuss with our customers. A lot depends on whether they trust this and want to place their eggs in our basket,” the source said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2566976729","isCrawlerRequest":true}