Tariff Hike Sparks Renewed U.S.- Canada Lumber Tensions
Learn About How the U.S. Raises Canadian Lumber Tariffs to 20.56%.
U.S. tariffs on Canadian softwood lumber will be increased to 20.56% according to a July 25 announcement of the U.S. Department of Commerce. The new tariff rate was based on a review of transactions during 2023,
“Commerce will now instruct U.S. Customs and Border Protection to begin collecting duties at the rates outlined in Commerce’s final results”, according to the Department of Commerce announcement.
The Canadian Council of Forest Industries called the new tariff rate “unjustified and punitive trade actions”.
The U.S. Lumber Coalition stated that the new tariff rate demonstrates the “enormous extent” to which the Canadian lumber industry has dumped its products in the U.S. market.