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Economy, Business, Finance, and Labor

Reactions Mixed On New U.S. Tariffs On Canadian Lumber

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Jaksmata
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File photo. The Trump administration plans to levy up to 24 percent tariffs on Canadian softwood lumber.

The Trump administration announced this week it would levy up to 24 percent tariffs on Canadian softwood. It’s the latest chapter in an ongoing dispute between the two countries.

??The decision came in response to a complaint filed in November by the U.S. Lumber Coalition. They had argued that because Canada subsidizes lumber harvested on public land there, that timber is sold below fair market value in the U.S.

But not all American companies are happy about the new tariffs. Spokane Home Builder’s Association Executive Officer Joel White said homebuilders and owners will bear the brunt of the extra costs. ??

“It could drive up the cost of homes nationally,” he said. “Our national association says on average $1,300.” ?

In a statement, the Canadian Government called the Commerce Department’s decision “unfair and unwarranted trade action.”