As the U.S. mulls potential tariff relief efforts to fight inflation, cutting U.S. tariffs on Canadian lumber is “not under consideration,” U.S. Treasury Secretary Janet Yellen told Reuters.
"To the best of my knowledge, they're not under consideration, at least as part of the things that the president is currently looking at," Yellen said of the Canadian lumber tariffs.
The U.S. currently imposes anti-subsidy duties of 11.64% on most lumber imports from Canada. The Biden administration is currently considering cutting tariffs on a range of Chinese products to curb inflation, Reuters reported.
The National Association of Home Builders issued a statement urging the Biden administration to include cuts to Canadian lumber tariffs in the effort to fight inflation.
“If the administration is truly interested in providing U.S. citizens relief from high inflation by removing costly tariffs, it should ensure that Canadian lumber is among the tariffs it targets for elimination,” NAHB Chairman Jerry Konter stated.
