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Will the Canadian softwood lumber industry experience job losses by the end of 2024 due to the increased U.S. duty?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Reports from Canadian industry associations or verified news sources
Story
U.S. Raises Canadian Softwood Lumber Duty to 14.54%, Impacting $8.4B Trade
Aug 14, 2024, 05:24 PM
The United States has significantly increased the duty on softwood lumber imports from Canada, raising the rate from 8.05% to 14.54%. This move has been criticized by Canada's Trade Minister, Mary Ng, who described the higher duties as unfair and unwarranted. The increase in tariffs is expected to have a substantial impact on the Canadian lumber industry, as 56% of Canadian softwood lumber is exported to the U.S., amounting to $8.4 billion. The decision has sparked concerns about potential job losses in Canada and has been labeled as a devastating blow to the industry.
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Loss of up to 100,000 jobs • 25%
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