Lumber prices have experienced uncertainty as of late and have led to harm on the housing affordability front. The Commerce Department took action by issuing its third administrative review to reduce duties on Canadian Lumber shipments into the United States from 17.99 percent to 11.64 percent.

 
The National Association of Home Builders (NAHB) had been calling on the Biden administration to eliminate or reduce the Canadian lumber tariff.

"NAHB welcomes the Biden administration's move to reduce duties from 17.99 percent to 11.64 percent on softwood lumber shipments from Canada into the U.S. Reducing these tariffs is an important step forward to addressing America's growing housing affordability crisis and easing extreme price swings in the lumber market that have added more than $18,600 to the price of a new home since late summer," NAHB Chairman Chuck Fowke explained.

Lower tariffs will help mitigate housing uncertainty and volatility within the lumber industry.


https://nahbnow.com/2022/01/nahb-welcomes-biden-administration-move-to-lower-lumber-tariffs/