U.S. Sets Near 35% Total Import Tax on Canadian Softwood Lumber Exports
- Reports
- 6
- Developments
- 1
- Repetition
- 83%
New informationRepeats or wire copies
What happened
The U.S. Department of Commerce reviewed Canadian softwood lumber exports and set the total import tax at almost 35 per cent, according to the BC Lumber Trade Council. This combined rate is lower than the 45 per cent announced last August. The total includes countervailing duties of 14.11 per cent, an anti-dumping rate of 10.64 per cent, and a 10 per cent tariff levied by U.S. President Donald Trump.
From medicinehatnews.com
Why it matters
The new duties and tariffs place a significant burden on Canadian lumber producers. The dispute, which has lasted nearly a decade, continues to pressure forest-dependent communities. Trade barriers have also reportedly driven up the cost of building homes in the United States and negatively affected companies that supply equipment and services to Canadian mills.
British Columbia is heavily involved in the affected forestry industry.
From medicinehatnews.com
Who's involved
- Gorman Bros Lumber (Canada)A lumber company located in West Kelowna that is subject to the new U.S. tariffs.
- West KelownaThe city in West Kelowna where lumber mills are located.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Gorman Bros Lumber (Canada)Speculative
Gorman Bros Lumber could face increased export costs due to the U.S. tariffs.
- West KelownaSpeculative
West Kelowna may see a decline in local lumber industry revenue because of U.S. trade barriers.
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The entities involved
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West Kelowna
city in the Regional District of Central Okanagan, British Columbia, Canada
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