North America containerboard quarterly: Q3 2025

Although GDP may dip slightly into negative territory in Q3 2025, the US appears to have avoided a recession triggered by a full-scale trade war. A milder tariff regime may emerge as the new normal, with pulp and paper products among those affected. In response, producers should take a cautious approach. They must manage capacity and costs carefully, reassess sourcing strategies to reduce exposure to tariffed imports, and strengthen domestic supply chains to improve resilience in a shifting trade landscape.

In the Q3 2025 edition of the containerboard forecast, we expect: