Market Insights
U.S. lowering softwood lumber tariffs
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step forward to addressing America’s he U.S. Department of Commerce growing housing affordability crisis decided to reduce duties on most softand easing extreme price swings in the wood lumber imports from Canada. lumber market that have added more On Jan. 31, the department issued its than $18,600 to the price of a new third administrative review on Canadian softwood home since late summer,” said Chuck lumber imports which reduces countervailing and Fowke, chairman of the NAHB. antidumping duties from 17.91% to 11.64%. The National Lumber and Building This move arrives after the Department of Material Dealers Association (NLBMCommerce previously doubled duties from DA) has also aggressively lobbied the 9% to 17.9% last November. Biden administration on the need to Industry advocates have pleaded for a reCanadian softwood lumber tariffs have been a long-running poinit of contention. lower softwood lumber tariffs and reduction in duties on softwood lumber and are turn to the negotiating table with Canapplauding this latest move by the Department of ada on a new long-term softwood lumber agreement. Commerce. Lumber pricing fluctuation and high costs have been In a prepared statement sent to members, the NLBblamed as major culprits behind harming housing affordability. MDA said it is “encouraged by commerce’s decision The National Association of Home Builders (NAHB) has and will continue to engage the administration on softbeen one of the agencies arguing for lower U.S. tariffs on wood lumber tariffs and other critical policies affecting softwood lumber imports. the lumber and building material supply chain.” “NAHB welcomes the Biden administration’s move to reduce The NLBMDA and NAHB sent letters to the White duties from 17.99% to 11.64% on softwood lumber shipments House last fall urging for reductions on duties. from Canada into the U.S. Reducing these tariffs is an important
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