In the past year, lumber export volume decreased by 6.0%, and prices contracted by 36.3%.
U.S.-Canada Lumber Trade Dispute
The longstanding dispute between the two nations over lumber exports, characterized by U.S. producers as unfairly subsidized, has persisted for decades.
The ITC examined and found that improvements in the U.S. softwood lumber industry, such as increases in production, capital investments, and employment, were related to the antidumping and the countervailing duty orders.
The joint statement emphasized the importance of collaboration to strengthen the forestry sector for both Canada and the United States, arguing that working together would benefit both parties.
The NAFTA panel, in its ruling, determined that the U.S. Department of Commerce made errors in calculating crucial aspects of the anti-dumping duties applied to Canadian softwood lumber exports.
U.S. Lumber Coalition views this as a welcome change in Canada's approach to the trade case, since it traditionally insists on requesting a United States-Mexico-Canada Agreement (USMCA) panel for their appeals.
Minister Mary Ng issued the statement regarding the United States’ fourth administrative reviews on softwood lumber from Canada.
GreenFirst Forest Products Inc. announces the reduction in its softwood lumber duty deposit rate from 20.23% to 7.99%, which is expected to take effect on or about August 2, 2023.
They assert that the U.S. duties are not only hurting the forestry professionals and communities in Canada but also increasing material costs for Americans.
DOC announced the final determination of a combined anti-subsidy and anti-dumping duty rate in the fourth annual review of unfairly traded Canadian softwood lumber imports into the United States. The review covers lumber imported in calendar year 2021.
The softwood lumber dispute between the U.S. and Canada has had significant economic implications for both countries, impacting the lumber industry, housing market, and trade relations.
Canadian Ministers have issued joint statement in response to the U.S. Department of Commerce’s final determination in its third administrative review regarding countervailing and anti-dumping duties applied to Canada’s softwood lumber exports to the United States.
U.S. sawmills have invested heavily to expand capacity since the trade cases were filed in 2016. According to U.S. Lumber Coalition, the domestic industry has produced an additional 15 billion board feet of lumber through 2021. This is enough lumber to build over 1 million single-family homes.
The US South is the most abundant domestic wood market and its share of use in building materials to continue to increase.
The most recent lumber price spikes have added more than $18,500 to the price of an average new single-family home and nearly $8,000 to the price of a multifamily home.
The lumber tariffs are contributing to unprecedented price volatility that has added more than $18,600 to the price of a new home since last August, NAHB says.
The Commerce Department issued its third administrative review to reduce duties on shipments of Canadian lumber into the United States from 17.99% to 11.64%.
Chuck Fowke, NAHB Chairman of the National Association of Home Builders(NAHB), lays out a strong case against tariffs on Canadian lumber shipments into the United States that are fueling lumber price volatility and harming housing affordability.
The final rates will take effect once published in the federal register, publication date is expected to be November 30, 2021.
Rather than placating China and Europe with sweetheart trade deals, the White House needs to change course and move immediately to engage with our Canadian partners on a long-term solution to the trade dispute that will end tariffs and help restore price stability to the lumber market, stated National Association of Ho...