US trade association averts new tariffs on lumber from Canada

Softwood lumber from Canada will be exempt from new tariffs imposed by the regime in Washington until 2 April. This was achieved by the US National Association of Home Builders (NAHB) in talks with the White House, reports the Canadian trade medium woodbusiness.ca. Lumber is an important building material in the USA. The new tariffs on goods from Canada and Mexico - from which the USA imports large quantities of gypsum - would increase the cost of a single-family home by USD 7,500 to USD 10,000, according to the NAHB.

As things stand at present, the 25 per cent tax on Canadian products would be added to the existing 14.5 per cent tariff on wood on 2 April. Canadian lumber would therefore be subject to a 39.5 per cent tax. According to the woodbusiness.ca report, the U.S. Department of Commerce plans to double the 14.5 per cent tariff later this year, possibly in September.