Higher Canadian Lumber Tariffs Coming Later This Year
Softwood lumber is a key component in home building. Canada accounts for roughly 85% of all U.S. softwood lumber imports and represents almost one-quarter of the supply in the U.S. The Commerce Department is currently imposing 14.5% tariffs on Canadian lumber and has signaled that it plans to more than double 14.5% tariff rate later this year to 34.5%.
These duties are completely separate from the global reciprocal tariffs initially announced by President Trump on April 2 but have since been paused. When the president made his announcement, NAHB scored an important win when Trump chose to continue current exemptions for Canadian and Mexican products, including a specific exemption for lumber from any new tariffs at this time.
Source: How Tariffs Impact the Home Building Industry | NAHB
