 "FirstUp: Tariffs on wood products to come into effect, Clintons to testify in Epstein case... The news today")
It is set to be a busy Tuesday with several events lined up for the day.
Firstly, US President Donald Trump’s tariffs on lumber, cabinets and wood products will come into effect from today. Former US President Bill Clinton will testify on the Jeffrey Epstein case.
The International Monetary Fund (IMF) will release its annual report on the world economy today. A fresh general strike will be held in Greece against the recent bill on a 13-hour working day. Sri Lanka will clash with New Zealand in the 2025 ODI Women’s World Cup today.
Here is all that is set to take place throughout the day.
Trump tariffs on lumber, cabinets, and wood products are to come into effect
Tariffs imposed on lumber, cabinets, and other wood products announced by US President Donald Trump will come into effect from today. Imports on software, timber and lumber will face a 10 per cent tariff rate while upholstered wooden products, including couches, sofas and chairs, will incur a 25 per cent duty.
A 25 per cent levy will also be applied to kitchen cabinets and vanities, including the component parts used to manufacture those products, according to the order. The order further specifies that the Trump administration’s existing tariffs on cars and auto parts will supersede those on wood products. Consequently, any imported wood product subject to both levies will only be charged the 25 percent car and auto part tariff.
Bill Clinton to testify on Jeffrey Epstein
Former US President Bill Clinton and former Secretary of State Hillary Clinton have been ordered to be present in court by a congressional committee examining the government’s handling of the Jeffrey Epstein case.
House Oversight Committee Chair James Comer, a Republican, issued the orders as part of an investigation into alleged failures in enforcing sex trafficking laws. The committee also subpoenaed six former attorneys general, Merrick Garland, Loretta Lynch, Eric Holder, Alberto Gonzales, Jeff Sessions, and William Barr, along with former FBI directors James Comey and Robert Mueller.
IMF to release annual report on world economy
The International Monetary Fund (IMF) is set to release its annual World Economic Outlook (WEO) today. This will provide an in-depth assessment of global growth trends, inflation, trade, and fiscal health.
Global growth for 2025 was projected at 2.9 per cent, a slight improvement from 2024, driven by resilient consumer spending, easing supply chains, and stabilising commodity prices.
However, the IMF warned that uneven recoveries across regions and geopolitical tensions continued to cloud the outlook.
Fresh general strike against the 13-hour working day bill in Greece
A 24-hour nationwide strike is set to take place in Greece today as public and private sector workers protest against a controversial labour bill that would allow 13-hour workdays.
The civil servants’ union ADEDY and the Athens Labour Centre (EKA) organised a strike to protest the proposed legislation as it enters parliamentary debate. Unions contend that the reform would abolish the eight-hour workday, destroy work-life balance, and make “hyper-exploitation” the norm.
The public transport will be heavily impacted, including metro, tram, and suburban rail services.
2025 ODI Women’s World Cup: New Zealand v Sri Lanka
Sri Lanka Women’s cricket team will face the New Zealand team today in R Premadasa Stadium, Khettarama in Colombo.
New Zealand were finally able to get off the mark against Bangladesh, with Devine, Halliday, Kerr and Tahuhu playing critical roles, but they would want to use this momentum and continue winning. Meanwhile, Sri Lanka’s Harshitha Samarawickrama has been brilliant with the bat, but the other batters have had a struggle so far, and that has been the case with their bowlers as well, with just Inoka Ranaweera having been excellent.
With inputs from agencies
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