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U.S. levies taxes on imported building materials - Woodshop News

U.S. levies taxes on imported building materials

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The U.S. Commerce Department is placing additional tariffs on hardwood plywood from China and softwood lumber from Canada based on preliminary determinations of antidumping (China) and countervailable subsidies.

The department found that the hardwood plywood from China had been unfairly subsidized at margins ranging from 9.89 percent to 111.09 percent, while exporters of softwood lumber from Canada received countervailable subsidies of 3.02 percent to 24.12 percent.

A countervailable subsidy is financial assistance from foreign governments that benefits the production of goods from foreign companies.

Since Jan. 20, the Department of Commerce has opened 24 trade enforcement investigations relating to alleged dumping or unfair subsidization of more than $2.3 billion worth of U.S. imports, and has made preliminary or final determinations on 34 antidumping/countervailing duty investigations impacting more than $3.6 billion of dumped or unfairly subsidized domestic imports.

“The Department of Commerce will act swiftly to halt any possible unfair trade practices against U.S. companies while also assuring a full and fair assessment of the facts,” Secretary of Commerce Wilbur Ross said in a statement. “The Trump administration is unequivocally committed to the vigorous enforcement of America’s trade laws and will ensure U.S. businesses and workers are treated fairly.”

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