After calling on the Biden Administration to eliminate or at least reduce the high tariffs on Canadian lumber, the National Association of Home Builders (NAHB) finally got a win. The Department of Commerce announced that they will be reducing the tariff on Canadian lumber by more than half, going from about 18% to 8.5%. The new price is expected to go into place later in August, and the change could reduce the price swings that the housing market has seen under the current housing market conditions.

 

International Trade Minister Mary Ng. from Canada believes that any tariff at all is unfair and said, "Canada is disappointed that the United States continues to impose unwarranted and unfair duties on Canadian softwood lumber. While the duty rates will decrease from the current levels for the majority of exporters, the only truly fair outcome would be for the United States to cease applying baseless duties to Canadian softwood lumber."
https://www.nahb.org/blog/2022/08/lumber-tariff