Canadian Lumber Duties Hit 35% — And May Go Higher Soon
The U.S. Commerce Department announced on Aug. 8, that it is more than doubling its countervailing duties on Canadian lumber imports from 6.74% to 14.63%.
This move comes just two weeks after the Commerce Department announced it is nearly tripling its anti-dumping duties on Canadian lumber imports from 7.66% to 20.56% following its annual review of existing tariffs.
As a result of these actions, countervailing and anti-dumping duties on Canadian lumber have jumped from 14.5% to 35%. The higher anti-dumping duties are now in effect, and the new countervailing rate will become effective when the announcement is made in the Federal Register, which is expected to occur next week.
Although NAHB is disappointed by this decision to raise lumber tariffs, it is part of the regularly scheduled review process the United States employs to ensure adequate relief to American companies and industries impacted by unfair trade practices.
Even more troubling, tariffs on Canadian lumber could go much higher before the end of the month.