U.S. Expected to Increase Lumber Tariffs This Summer
The U.S. Department of Commerce has signaled that it plans to raise tariffs later this year on imports of Canadian softwood lumber products from the current rate of 8.05% to about 14% following its annual review of existing tariffs.
Although NAHB is disappointed by this action, this decision is part of the regularly scheduled review process the United States employs to ensure adequate relief to American companies and industries impacted by unfair trade practices.
The Department of Commerce initiated its fifth administrative reviews of its softwood lumber anti-dumping and countervailing duty orders last March and announced its preliminary findings of these reviews at the beginning of this month. The agency is expected to issue its final results later this summer or early fall, at which time the higher duties will take effect.
For years, NAHB has been leading the fight against lumber tariffs because of their detrimental effect on housing affordability. In effect, the lumber tariffs act as a tax on American builders, home buyers and consumers.
With housing affordability already near a historic low, NAHB continues to call on the Biden administration to suspend tariffs on Canadian lumber imports into the United States and to move immediately to enter into negotiations with Canada on a new softwood lumber agreement that will eliminate tariffs altogether. And we continue to work with our allies in Congress to put pressure on the administration to take action.
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