German softwood imports up tenfold in wake of U.S. duties on Cdn industry
OTTAWA — U.S. imports of softwood from Germany have grown tenfold in the first half of the year as punishing duties pushed imports of Canadian softwood down.
RBC Capital Markets analyst Paul Quinn estimates Canadian lumber producers have plunked down $500 million so far in countervailing and antidumping duties since the spring.
The U.S. alleges Canada unfairly subsidizes its softwood industry and has slapped on import taxes averaging 26.75 per cent as punishment.
Canada disputes the U.S. assessment but cannot officially challenge the U.S. tariffs until after final decisions are made about the level of duties to be imposed some time this fall.