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US May See Softwood Lumber Price Increase as Trump Imposes New Canada Tariffs

© AP Photo / CP/Richard LamPiles of softwood lumber destined for export, are stacked at a Richmond, B.C., Canada lumberyard (File)
Piles of softwood lumber destined for export, are stacked at a Richmond, B.C., Canada lumberyard (File) - Sputnik International
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US Secretary of Commerce Wilbur Ross said Tuesday Americans may face a price increase on softwood lumber, as the Trump administration imposed new tariffs for the product's import from Canada.

WASHINGTON (Sputnik) — The decision to impose new tariffs on Canadian softwood lumber could cause a slight price increase on the product in the United States, Ross said in a press briefing on Tuesday.

"We do not think that the price of lumber will go up by anything like the 20 percent, but there may be some small increase in the price of lumber for the house," Ross stated.

Workers prepare lumber inside Weyerhaeuser's Port Alberni Mill on Vancouver Island in British Columbia (File) - Sputnik International
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US Tariffs on Lumber Not to Signal Trade War With Canada - Commerce Secretary
Ross noted the Trump administration had put Canadians on notice three months ago about their inappropriate lumber trade practices.

The commerce secretary underscored that Canada has generally been a "good neighbor."

However, the long-time US-Canada partnership does not mean that Ottawa can avoid complying with trade rules, Ross added.

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