N.B. forest sector avoids additional duties from US
According to CBC News, the U.S. will not apply extra duties to New Brunswick forest companies because the province charges privately owned timberland low property taxes.
The U.S. Department of Commerce ruled the province assesses forest properties for taxes too low at $100 per hectare, but this is not low enough to result in extra duties on forest products, CBC News reports.
A group of U.S. lumber companies argued the tax treatment is a government benefit to private timberland owners and therefore N.B. forest companies should have additional duties placed on forest products entering the U.S.
“It’s another allegation we’ve been able to refute the same as we’re going to continue to try and refute the other allegations of subsidy in New Brunswick,” said Forest NB’s Mike Legere about the decision.
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