US will double tariffs on Canadian lumber
The US Department of Commerce has announced its plans to raise tariffs on Canadian lumber from 8.99% to 18.32%.
Industry representatives and politicians have different opinions on the matter: in a press release, Mary Ng, Canadian Minister of Small Business, Export Promotion and International Trade, calls US tariffs on Canadian softwood lumber products a tax for the American people.
According to Susan Yurkovich, President of the British Columbia Lumber Trade Council, raising tariffs will hurt American consumers, who are confronted with a market on which supply cannot keep up with demand.
Jason Brochu, Co-Chair of the U.S. Lumber Coalition, on the other hand, welcomes the commitment of the Department of Commerce on the enforcement of trade laws against “subsidized and unfairly traded” Canadian lumber imports.
Since this is a preliminary tariff, the current tariffs will continue to apply until the final rates are published, which is expected to happen in November.