04-25-2017, 11:52 AM
(This post was last modified: 04-27-2017, 10:12 AM by dmcowen674.)
Trump Slaps Tariff on Canadian Lumber
4-25-2017
The Trump administration announced on Monday that it would impose new tariffs on Canadian softwood lumber imports, escalating a longstanding conflict with America’s second-largest trading partner.
At the conflict’s heart is a fundamental difference in forestry ownership. In the United States, forest lands are largely held by lumber companies. In Canada, they tend to be owned by the government, and American mills contend that Canadian provinces subsidize their industries by charging low royalty rates for cutting trees.
The United States imported $5.7 billion in softwood lumber last year alone, mainly for residential home building.
The tariffs are likely to be opposed by American homebuilders, who say they raise the cost of new houses.
Home Builders found that a 15 percent tariff would increase new home prices by 4.2 percent and cost 4,666 full-time jobs.
4-25-2017
The Trump administration announced on Monday that it would impose new tariffs on Canadian softwood lumber imports, escalating a longstanding conflict with America’s second-largest trading partner.
At the conflict’s heart is a fundamental difference in forestry ownership. In the United States, forest lands are largely held by lumber companies. In Canada, they tend to be owned by the government, and American mills contend that Canadian provinces subsidize their industries by charging low royalty rates for cutting trees.
The United States imported $5.7 billion in softwood lumber last year alone, mainly for residential home building.
The tariffs are likely to be opposed by American homebuilders, who say they raise the cost of new houses.
Home Builders found that a 15 percent tariff would increase new home prices by 4.2 percent and cost 4,666 full-time jobs.