The U.S. plans to more than double existing anti-dumping and countervailing duties on Canadian softwood lumber, potentially spiking homebuilding costs, according to a U.S. Department of Commerce filing.
The Department of Commerce plans to increase the duties from 14.4% to 34.45%. The duties are separate from the 10% baseline tariffs and reciprocal tariffs President Donald Trump announced last week.
The duties and tariffs could drive up housing costs, as roughly 30% of the softwood lumber consumed in the U.S. is imported, with Canada accounting for more than 80% of those imports, according to the National Association of Home Builders.
NAHB estimated the recent tariffs could raise the average cost of a home by $9,200.
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