ADMINISTRATION makes preliminary decision to impose 19 percent tariffs on Canadian softwood lumber
Friday, August 10th 2001, 12:00 am
By: News On 6
WASHINGTON (AP) _ The Bush administration announced on Friday that it would impose a 19.3 percent penalty tariff on softwood lumber imported from Canada in retaliation for unfair government subsidies given to the Canadian lumber industry.
The penalty tariffs are expected to take effect on a preliminary basis by Aug. 20, officials said. An economist for the National Association of Homebuilders said the higher tariffs could add up to $1,000 to the cost of a new home.
Commerce Secretary Donald Evans, in announcing the decision, said that it had been reached ``after careful consideration of the law and the fact on the record.''
The tariffs will be imposed on a preliminary basis while the Commerce Department considers a final ruling in the long-running dispute with Canada over lumber.
To become final, the U.S. International Trade Commission will also need to issue a final determination that the U.S. industry is being significantly harmed by imported lumber from Canada.