The U.S. Department of Commerce has determined that TRAPA Forest Products Ltd. (TRAPA) is the successor to Trans-Pacific Trading Ltd. concerning the countervailing duty order on certain softwood lumber from Canada. As a result, TRAPA will now be subject to the same cash deposit rate of 6.74% that previously applied to Trans-Pacific. This decision follows the Department's preliminary findings, and no objections were raised against it. Consequently, all shipments of applicable products by TRAPA will adopt this rate moving forward.
Simple Explanation
The U.S. government decided that TRAPA Forest Products is now like a new version of another company called Trans-Pacific for special trade rules about wood from Canada. This means TRAPA now has to pay the same extra tax (6.74%) on their wood that Trans-Pacific did.