U.S. to Impose 20% Tariff on Canadian Softwood Lumber
On Monday, U.S. Commerce Secretary Wilbur Ross announced their preliminary determination that exporters of softwood lumber from Canada received countervailable subsidies.
The United States will now impose a tariff averaging 20 percent on Canadian softwood lumber imports. The tariff will go into effect for imports over the past 90 days.
According to a release from NLBMDA:
Lumber prices have increased over the past year in anticipation of duties being placed on Canadian softwood lumber imports into the U.S. The Random Lengths Framing Lumber Composite price is now $437 per thousand board feet, an increase of 26 percent over the past year.
"NLBMDA continues its call for the U.S. and Canada to reach a new long-term softwood lumber agreement," said Jonathan Paine, President & CEO of the National Lumber and Building Material Dealers Association (NLBMDA). "Both sides should work cooperatively toward a resolution that ends the trade dispute and provides predictability and stability to the housing industry."
NLBMDA supports a new SLA that helps meet domestic demand for softwood lumber, does not put American lumber producers at a competitive disadvantage, unnecessarily restrict the availability of products, or increase the cost of housing to the detriment of prospective home buyers and consumers.
Read the Commerce Department’s Announcement
See the Commerce Department Fact Sheet.
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