The U.S. Department of Commerce is seeking to double tariff rates against most Canadian softwood producers even as lumber prices hover around record highs.
In a decision on Friday for preliminary new rates, the Commerce Department raised the combined duties for most Canadian lumber producers to 18.32 per cent, compared with the current 8.99 per cent.
The proposed rates will not take effect immediately since they are subject to further review over the next six months before final duties are set.
Two-by-fours made from Western spruce, pine and fir sold last week for a record US$1,640 for 1,000 board feet, according to industry newsletter Madison’s Lumber Reporter. Those benchmark prices stayed flat this week, but they have shot up 340 per cent since mid-May of 2020.
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