US adds higher duties on lumber imports from Canada

Source:
Fordaq
Views:
1123
  • text size

The US Department of Commerce has added 6.87% in preliminary average anti-dumping tariffs for Canadian softwood lumber imports. Now, the softwood lumber industry in Canada faces average duties of about 27%.

The new anti-dumping duty will overlap for about two months with average preliminary countervailing duties of 19.88 per cent announced in April that are set to expire Aug. 27. Final combined duties will be applied around the end of the year when all determinations have been made.

Resolute Forest Products was assessed the lowest duties of 4.59%, while Canfor received the highest duties, of 7.72%. West Fraser and Tolko were tagged 6.76% and 7.53 duties, respectively. These rates are lower than the analysts forecast which reached 10%.

Thus, West Fraser will have the highest combined duties, at 30.88%, followed by Canfor at 27.98% and Tolko at 27.03%. All other producers will face combined average duties of 26.75%, with the exception of Resolute at 17.41% and J.D. Irving at 9.89%.

Post comment