Biden not looking at cutting Canadian lumber tariffs to curb inflation: U.S. treasury head – National
U.S. Treasury Secretary Janet Yellen stated on Tuesday that President Joe Biden just isn’t anticipated to chop U.S. tariffs on Canadian lumber as a part of potential tariff aid he’s contemplating to battle inflation.
“To one of the best of my data, they’re not into consideration, at the very least as a part of the issues that the president is presently ,” Yellen stated of the anti-subsidy duties of 11.64% on most Canadian lumber imports.
She made the remarks to reporters throughout a go to to the Rosebud Sioux Tribe reservation in South Dakota.
On Monday in Toronto, Canadian Finance Minister Chrystia Freeland urged to Yellen at a public discussion board that chopping the tariffs can be one method to ease inflation and finish a long-running commerce dispute between the North American buying and selling companions.
Lumber and constructing materials costs have soared over the previous 12 months, as demand for development surged because the COVID-19 pandemic eased.
Biden is contemplating scrapping tariffs on a variety of Chinese language items to curb inflation, however no determination is probably going earlier than subsequent week’s Group of Seven summit, folks aware of the matter stated.
The cuts are doubtlessly substantial, however the scale has not been determined, in keeping with the sources.
(Reporting by David Lawder; Enhancing by Leslie Adler)
