U.S. Raises Duty On Canadian Softwood Lumber To 17.9%
The U.S. government said that its final combined anti-dumping and countervailing duty rate for most Canadian producers will be 17.9%, which is double the initial 8.99% rate.
International Trade Minister Mary Ng called on the U.S. to stop imposing "these unwarranted duties" that harm Canadian communities, business and workers while also raising costs of housing and renovations for U.S. consumers.
The final rate for Canfor Corp.(TSX:CFP) is 19.54%; West Fraser Timber Co. (TSX:WFG) is 11.12%; Resolute Forest Products (TSX:RFP) is 29.66%; and JD Irving (TSX:IVN) is 15%.
The B.C. Lumber Trade Council says the final rates are not unexpected but still disappointing, especially since U.S. producers are unable to meet domestic demand.
The U.S. government has long claimed that Canadian lumber producers are unfairly subsidized and that gives them a competitive edge over domestic American producers.