NLBMDA: Tariffs on Canadian Softwood Lumber have been Reduced to 8.59 Percent

The National Lumber and Building Material Dealers Association reports in an email to members that the Commerce Department of the U.S. has reduced duties on many Canadian softwood lumber imports to 8.59 percent, completing its third annual administrative review of the contentious tariffs.

The new “all others” duty rate represents a significant reduction from the current rate of 17.91 percent, which is subject to an annual review that recalculates the countervailing and antidumping duty rates for Canadian softwood lumber shipments.

A preliminary determination from the Commerce Department’s third annual review earlier this year suggested that the rate would be reduced to 11.64 percent.

While the NLBMDA applauds the lower 8.59 percent duty rate for many softwood lumber importers, the tariff remains a punitive tax on American consumers, weakening the US housing market and preventing access to affordable homeownership by destabilizing the lumber supply chain.

The NLBMDA has heavily lobbied trade officials in the Biden Administration and the Commerce Department to eliminate Canadian lumber tariffs and negotiate a new Softwood Lumber Agreement.

More than a quarter of the softwood lumber used by American builders comes from Canada, where exorbitant tariffs have fluctuated since 2017.

NLBMDA continues to engage the Biden Administration on softwood lumber tariffs and advocates for renewed US-Canada Softwood Lumber Agreement negotiations.