Framing lumber prices decline as Canadian softwood tariffs drop

The price of framing lumber dropped by 0.9% from the previous week to $494.51 per 1,000 board feet on October 23, Google News and the National Association of Home Builders reported. The metric relies on data from Madison's Lumber Price Index. [1][8]

Preliminary antidumping and countervailing duty rates on Canadian softwood lumber were recently announced. The antidumping rate fell from 20.6% to 10.7%, while the countervailing duty rate decreased from 14.6% to 14.2%. These adjustments lower the combined rate from 35.2% down to 25.9%, marking a reduction of approximately 10 percentage points. [1]

A 10% Section 232 tariff remains in effect for Canadian imports. When combined with the updated preliminary rates, the overall effective rate on Canadian softwood lumber stands at 35.9%. [1]

The preliminary duty rates are not final. If implemented, the new rates are scheduled to take effect in August. [1]