By Paul Emrath | Eye on Housing
On November 2, 2017, the Commerce Department announced its final decision to impose duties averaging 20.83 percent on Canadian softwood lumber shipments into the U.S. The impacts of these duties on the U.S. economy next year will include increased production by U.S. sawmills, reduced imports from Canada, and higher prices paid for lumber by consumers in the U.S., which in turn will lead to a reduced volume of new residential construction. The National Association of Home Builders (NAHB) estimates that the bottom line impact of these effects in 2018 will be a net loss of
$576.9 million in wages and salaries for U.S. workers,
$404.0 million in taxes and other revenue for governments in the U.S., and
9,370 full-time U.S. jobs.