May 26, 2021

US moves to double tariffs on canadian softwood lumber

The US Commerce Department says it will seek to double tariff rates against most Canadian softwood lumber producers, raising the combined duties for most importers to 18.32% despite current record high lumber prices.

Resolute Forest Products and Canfor would face even higher duties of 30.22% and 21.04%, respectively, while West Fraser Timber has a preliminary new rate of 11.38% vs 8.97% previously.

The proposed new rates are subject to further review over the coming six months before final rates are determined.

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