Trump Slaps Duty on Canada Lumber, Intensifying Trade Fight
by Jennifer Epstein and Joe Light for Bloomberg Politics
Step will raise cost of home-building, mattress box springs
Canada vows to fight back against ‘unfair” import duties
U.S. President Donald Trump intensified a trade dispute with Canada, slapping tariffs of up to 24 percent on imported softwood lumber in a move that drew swift criticism from the Canadian government, which vowed to sue if needed.
Trump announced the new tariff at a White House gathering of conservative journalists, shortly before the Commerce Department said it would impose countervailing duties ranging from 3 percent to 24.1 percent on Canadian lumber producers including West Fraser Timber Co.
“We’re going to be putting a 20% tax on softwood lumber coming in — tariff on softwood coming into the United States from Canada,” Trump said Monday, according to a tweet by Charlie Spiering, a White House correspondent for Breitbart News. A White House official confirmed the comment.
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The Press Release from the NAHB:
Statement from NAHB Chairman Granger MacDonald on Canada Seeking Alternative Source of Lumber Exports to the U.S.
Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville Texas, today issued the following statement regarding reports that Canada is looking at China to boost lumber exports as an alternative to the U.S.:
“The fact that Canada is seeking alternative sources to the U.S. for its lumber exports should serve as a wake-up call to Washington policymakers. More than one-third of the lumber used in the U.S. last year came from exports because the U.S. does not produce enough lumber to meet the nation’s needs. Home builders need a consistent, reasonably priced supply of lumber to keep housing affordable for hard-working American families.
“Policymakers have a number of options at their disposal to make up for the current domestic shortfall. These include increasing domestic harvests, boosting exports from other nations and limiting U.S. exports. Moreover, it would be in the best interests of the U.S. and Canada to achieve a long-term solution to the ongoing trade dispute that ensures U.S. lumber consumers have access to a stable supply of lumber at competitive prices.”
