U.S. to Cut Duties on Canadian Wood Imports
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The Commerce Department said it would comply with a NAFTA panel’s order to drastically cut U.S. duties on imports of Canadian softwood lumber.
U.S. officials said they disagreed with the rationale behind the ruling but respected its authority. Canada accounts for about one-third of the U.S. market for softwood, which is easily sawed pine, spruce and other wood used in home building.
The decision means the United States will reduce the punitive duties, which average about 16%, to less than 1%. Separate anti-dumping tariffs averaging about 4% will not be affected.
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