The U.S. Department of Commerce is lowering duties on many Canadian softwood lumber imports to 8.59% after finalizing its third annual administrative review of the controversial tariffs. The new “all others” duty rate is a significant decrease from the current rate of 17.91%, which is subject to an annual review that recalculates the countervailing and antidumping duty rates for softwood lumber shipments from Canada. Earlier this year, a preliminary determination from the Commerce Department’s third annual review suggested the rate would be slashed to 11.64%.
