With the end of the countervailing duties of 19.88 per cent on Canadian softwood lumber formally ended, majority of the lumber companies in Canada will now only have to pay 6.87 per cent in anti-dumping tariffs, affording them much needed relief.
This reprieve, however, is only temporary, with the final duty rates to be announced later this year, in the fall, according to The Toronto Star.
But while the countervailing duties were formally lifted recently, industry analysts have noted that some Canadian producers were able to export their products without the duties since the 14th of August by delaying the relevant paperwork by up to ten days.
Additionally, lumber prices, which rose in anticipation of more duties have begun to come down, partly due to the duties reducing.
Source: The Toronto Star