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U.S. to reduce softwood lumber levies, report says

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The Globe and Mail is reporting that the “U.S. Department of Commerce plans to decrease tariffs for most Canadian softwood producers but raise them for West Fraser Timber Co. Ltd. WFG-T, Canada’s largest lumber company.”
The report goes on to say that “the Commerce Department said late on Monday that based on its preliminary assessment, the combined countervailing and anti-dumping tariffs will be 11.64 per cent for most Canadian producers, compared with 17.91 per cent currently.
“Vancouver-based West Fraser is the only company that will not benefit from the lower rates, which are intended to take effect in the fall of 2022. Its duty rate is slated to increase to 13.09 per cent from the current 11.14 per cent.
“The tariffs will vary for three other lumber producers besides West Fraser.
“International Trade Minister Mary Ng said she is committed to finding a way to end the U.S. lumber tariffs.”

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