The International Trade Commission has overturned the tariffs imposed on Canadian newsprint, saying on Wednesday that imports of uncoated groundwood paper from Canada do not harm U.S. producers. The ITC said it has decided "that U.S. industry is not materially injured or threatened with material injury by reason of imports of uncoated groundwood paper from Canada that the U.S. Department of Commerce (Commerce) has determined are subsidized and sold in the United States at less than fair value." The Department of Commerce previously imposed anti-dumping and countervailing duties on Canadian uncoated groundwood paper of up to 20% in response to a petition filed by North Pacific Paper Company. The ITC's decision will allow Canadian paper producers to stop paying tariffs on their uncoated groundwood paper exports, which should lower costs for newspapers, which were hard-hit by the rising costs due to the tariffs. "Today is a great day for American journalism. The ITC's decision will help to preserve the vitality of local newspapers and prevent additional job losses in the printing and publishing sectors," said David Chavern, president and CEO of News Media Alliance, in a statement.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.