New U.S. Import Taxes on Canadian Softwood Lumber Reach Almost 35%
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The BC Lumber Trade Council reports that Canadian softwood lumber now faces a total import tax of almost 35%, down from 45% last year, but still burdensome for producers amid ongoing trade disputes.
In a recent update from the BC Lumber Trade Council, it has been revealed that Canadian softwood lumber is now subject to total import taxes of nearly 35%. This figure comes following the latest review conducted by the U.S. Department of Commerce, reflecting a decrease from the combined rate of 45% that was announced in August of the previous year. Despite this reduction, Kim Haakstad, the interim president of the council, expressed disappointment among members regarding the continued imposition of what they perceive as unjustified and punitive trade measures against Canadian lumber producers. The council’s statement highlighted that the cumulative burden of duties and tariffs remains significant for those in the industry. The protracted softwood lumber dispute, which has persisted for almost a decade, has placed considerable strain on communities that rely on forestry for their livelihoods. According to the council, the U.S. Commerce Department has implemented countervailing duties set at 14.11%, along with an anti-dumping rate of 10.64%, and an additional 10% tariff imposed by former U.S. President Donald Trump, justified on grounds of national security. Haakstad further noted that American families are also affected by these trade barriers, which have contributed to increased costs for home construction in the U.S. and have adversely impacted companies that supply equipment and services to Canadian lumber mills.
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economic impact
construction costs
U.S. tariffs
softwood lumber
homebuilding
BC Lumber Trade Council
forest communities
trade dispute
import taxes
Canadian lumber
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