United States trade agency rules against Canada in lumber dispute

United States trade agency rules against Canada in lumber dispute

The U.S. International Trade Commission has unanimously voted that the American lumber industry has been harmed by Canadian softwood lumber imports.

The commission made the decision in a unanimous vote on December 7. This decision means the tariffs imposed by the Commerce Department will remain in effect for Canadian lumber shipments into the U.S. These tariffs are acting as a tax on American home buyers and lumber consumers.

The U.S. imports about a third of its lumber. Voting 4-0 in favor of the U.S. lumber industry, the ITC ruling confirms a U.S. Department of Commerce determination that imports of softwood lumber from Canada are sold in the United States at less than fair value and subsidized by the government of Canada. It also found Canada is providing unfair subsidies to Canadian softwood producers at rates from 3.34 to 18.19 per cent.

A full report from the U.S. International Trade Commission is slated to be released on January 12, 2018.

More news: Superhot Mind Control Delete announced

Demand from USA builders for lumber remains high and the additional cost is wrapped into the cost of new homes in the U.S.

The tariffs, outlined by the Commerce Department in November, would add duties that range from about 10-24%, depending on the company, which is lower than an earlier proposal.

It is challenging the finding at the World Trade Organisation and via the dispute mechanism of the North American Free Trade Agreement (Nafta). Canadian producers paid about $500 million in deposits for the duties thus far, with more to come in 2018 if there is no settlement.

Related Articles

  • Huawei Mate 9 EMUI 8.0 update rolling out

    Huawei Mate 9 EMUI 8.0 update rolling out

    Processor & Android of Huawei Nova 2s - The smartphone Nova 2s is powered by a 4-bit octa-core HiSilicon Kirin 960 SoC processor. Recently, Huawei's sub-brand Honor launched its dual camera smartphone Honor 7X in India at a starting price tag of Rs 12,999.
    Abductors Of Former Sports Minister Sango Demand N100m Ransom

    Abductors Of Former Sports Minister Sango Demand N100m Ransom

    Sango, a serial governorship aspirant, is the current Chairman of the Peoples Democratic Party, PDP , in Plateau State. He said, "The Jere Road has been a flashpoint and Kaduna State is a den of kidnappers".
    Gear Up for PlayerUnknown's Battlegrounds With Limited-Edition Cosmetic Packs

    Gear Up for PlayerUnknown's Battlegrounds With Limited-Edition Cosmetic Packs

    PlayerUnknown's Battlegrounds is now in early access on PC, but it will have its full release on December 20th. It's called Miramar , and it was shown in motion for the first time Thursday night during The Game Awards.
  • Cisco Systems, Inc. (NASDAQ: CSCO)

    With 15.90M avg volume, 3 days are for Cisco Systems Incorporated (NASDAQ: CSCO)'s short sellers to cover CSCO's short positions. At midday, the Dow Jones Industrial Average added 8.46 points, or 0.04 per cent, to 24,298.51, Xinhua news agency stated.
    Firewatch Dev Reveals New Game Called In The Valley Of The Gods

    Firewatch Dev Reveals New Game Called In The Valley Of The Gods

    The journey takes you into the desert, presumably Egypt, and there are two characters. Campo Santo, the developers, describe the game as a "first-person adventure".
    'I, Tonya': Allison Janney Reveals What Tonya Harding Thinks of the Biopic

    'I, Tonya': Allison Janney Reveals What Tonya Harding Thinks of the Biopic

    Janney well recalls the Harding-Kerrigan incident, but she came away from the film with a different view. There's a surprising depth to " I, Tonya ", too , as the sheer resilience of Harding stirs.
  • Nets rally past Thunder in Mexico City

    Nets rally past Thunder in Mexico City

    Anthony shot 5 of 20, and the Thunder wound up at 38.8 percent. The Nets didn't get their 10th win last season until March 1. Westbrook had 31 points, eight rebounds and six assists.

    Could Edison International (EIX) Gain Strenght? The Stock Reaches 1 Year Low

    Following the completion of the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. ValuEngine raised Consolidated Edison from a "hold" rating to a "buy" rating in a research note on Friday, November 10th.
    Sensex, Nifty gain over 1%; auto, durables stocks surge

    Sensex, Nifty gain over 1%; auto, durables stocks surge

    Here are the key highlights, which will affect the market today. "Markets will now look out for the Gujarat election outcome". It has slipped 4.7 percent from a 10-year peak hit on November 23 as investors booked profits after robust gains this year.
  • Quentin Tarantino's 'Star Trek' Movie Is Gaining Pace; Will Be R-Rated

    Quentin Tarantino's 'Star Trek' Movie Is Gaining Pace; Will Be R-Rated

    This was a condition of Tarantino being involved, and one that both Abrams and Paramount agreed to. Forget photon torpedoes - Quentin Tarantino could be bringing F-bombs to the Star Trek universe.

    Washington Real Estate Investment Trust (NYSE:WRE) Price And Consensus

    It has underperformed by 64.43% the S&P500.The move comes after 5 months negative chart setup for the $805.46 million company. McCormick & Company, Incorporated (MKC) formed inverse H&S with $108.87 target or 6.00% above today's $102.71 share price.
    Royals claims he was sexually harassed by Kevin Spacey

    Royals claims he was sexually harassed by Kevin Spacey

    I honestly do not remember the encounter, it would have been over 30 years ago. I've been very gratified by the response I've gotten from so many people.