| The United States Commerce Department announced last week that it will comply with the NAFTA panel's instructions regarding duty calculations on Canadian softwood lumber. The new calculation rate, if approved by all parties, would be under one percent.
The Commerce Department has vowed to appeal NAFTA's ruling and emphasized that current duties, averaging 20 percent, are still in place.
The decision was made after NAFTA gave the United States one week to comply with the trade body's latest ruling.
In a statement, Commerce Secretary Carlos M. Gutierrez, said "We have serious concerns about the panel's decision. However, consistent with our NAFTA obligations, we have complied with the panel's instructions," said Commerce Secretary Carlos M. Gutierrez. "We will continue to enforce our trade laws to ensure that U.S. industry receives relief from unfair imports and we are reviewing all options to do so. We believe that only a durable, negotiated resolution will resolve this dispute permanently."
The National Association of Home Builders has long opposed the duties, contending that they unfairly add to the cost of a new home.
This eUpdate posting by: Steve Joyce, Editor
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