President Trump imposed a 50% tariff on a broad range of Canadian goods, including cement, plywood and furniture. The action would not affect other existing tariffs on key building materials, including softwood lumber. The 30-day delay gives the US and Canada time to negotiate an agreement that could avert the tariffs. …Meanwhile, to replace the expiring Section 122 tariffs, the administration announced new duties under a different authority. Citing a ban on imports made with forced labor… the US will impose tariffs of 10% to 12.5% on imports from 60 nations under Section 301 of the Trade Act of 1974. …Additional tariffs could also be coming. The administration is still investigating whether 16 nations have engaged in excess manufacturing, driving down prices and putting U.S. companies at a competitive disadvantage. …In a positive development, the U.S. Commerce Department is poised to lower anti-dumping and countervailing duties on Canadian softwood lumber imports from a combined 35% to 25% in mid-August..