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Trade Wars Begin: Trump Announces 20% Tariff On Canadian Softwood Lumber Imports

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Trade Wars Begin: Trump Announces 20% Tariff On Canadian Softwood Lumber Imports
by Tyler Durden
Apr 25, 2017 5:39 AM

Speaking during a first of its kind meeting dedicated only to members of the U.S. conservative media, including Breitbart News, OANN and Daily Caller, President Trump told reporters to expect a 20% tariff on softwood lumber coming into Canada.

“We’re going to be putting a 20 per cent tax on softwood lumber coming in — tariff on softwood coming into the United States from Canada,”  tweeted Charlie Spiering of Breitbart Media.

Trey Yingst of OANN tweeted that according to Trump “Canada has treated us very unfairly” and also threatened a tax on Canada’s dairy industry.

According to the WSJ, Wilbur Ross said the tariff will be applied retroactively and imposed on Canadian exports to the U.S. of about $5 billion a year. He said the dispute centers on Canadian provinces that have been allegedly allowing loggers to cut down trees at reduced rates and sell them at low prices. "The determination that Canada improperly subsidizes its exports is preliminary, and the Commerce Department will need to make a final decision. In addition, the U.S. International Trade Commission will need to find that the U.S. industry has suffered injury. But even a preliminary decision has immediate real-world consequences, by discouraging importers from buying lumber from Canada."

Or, as a WSJ associate editor put it, "Blame the Chinese, but tax the Canadians:"


I wonder what this will do to the price of wood here in the homeland... pine is the most commonly used wood for building houses. I expect the cost of new houses would rise dramatically. There has already been a rise in the cost of pine - this deal may put buying a new house out of range for the average home buyer. Likewise, the cost of fixing up the old abode may become prohibitive for current homeowners. We pay more for wood, we ensure the lumber land-owners higher profits, the supply will go down, the price will go up - who will benefit from this???
“He who passively accepts evil is as much involved in it as he who helps to perpetrate it. He who accepts evil without protesting against it is really cooperating with it.”
Martin Luther King Jr.

Re: Trade War Continues
« Reply #1 on: Nov 13, 2020, 10:47:45 am »

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