US South set to end Canada’s lumber dominance

Friday 15 Nov 2024

 
The southern US has overtaken Canada as the leading North American region for softwood lumber production, marking a shift driven by long-standing trade challenges and environmental factors. For the first time since at least 1970, the US South surpassed Canada’s production of softwood lumber in 2022. This change reflects the impact of US tariffs, but mainly additional pressures on Canadian forestry, including wildfires, regulatory limits on land use, and pest infestations.

The US recently raised duties on Canadian softwood lumber by nearly 81% in August, intensifying a decades-long trade dispute. Currently, these tariffs stand at 14.4%, but analysts warn that rates could climb even higher next year – and up to 30% - pending the Commerce Department’s next annual review. Plus, the new Trump government is proposing tariffs of 10% on all imports – this would also apply to softwood lumber! This dynamic underscores a dramatic reshaping of the North American lumber landscape.

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Source: Yahoo Finance


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