Vancouver-based West Fraser is the only company that will see its rate rise, report says
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The U.S. Department of Commerce plans to reduce tariffs for most Canadian softwood producers from almost 18 per cent to 11.64 per cent.
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In a preliminary determination released late on Monday, the agency said Canadian lumber shipments to the U.S. will continue to be subject to the 17.91 per cent, or company specific, duties until it releases its final determination expected in late November.
But the preliminary assessment is an indication of the direction the duties will move.
Vancouver-based West Fraser is the only company that will see its rate rise, from 11.14 per cent to 13.09 per cent, reports the Globe and Mail.
International Trade Minister Mary Ng said the preliminary results show that the U.S. intends to continue its “unjustified duties on imports of Canadian softwood lumber.”
“U.S. duties on Canadian softwood hurt forestry sector businesses, workers and communities across Canada. They are a tax on American consumers and reduce the affordability of housing for American homebuyers at a time when housing prices are already at record highs,” Ng said in a statement Monday.
“Canada believes a negotiated solution to this long-standing trade issue is in the best interests of both our nations, and we will continue to work closely with our industry to defend Canadian interests.”
More to come …
