Clarification of how to address tariffs in global pulp pricing

Fastmarkets wishes to clarify details of global pulp price methodologies’ treatment of the tariffs announced by the US in April on imports from trade partners, as well as the potential or actual reciprocal tariffs introduced by those trade partners on imports from the US.

April 16, 2025

By Fastmarkets Staff

Fastmarkets proposes to continue to publish all delivered prices net of tariffs. The specifics of the global pulp markets likely to be most affected are detailed below.

Asia

Fastmarkets’ prices for pulp imports into China are on a CIF basis. Consequently, Fastmarkets will continue to assess these prices net of tariffs. To date, US pulp has not received an exemption to retaliatory tariffs that Asian countries may apply to US imports, but government tariff policies can change at any time.

The most affected price assessment is likely to be for fluff pulp in Europe. Because this is assessed on a CIF basis, even if the EU launches counter-tariffs on pulp imports from the US, this assessment will be net of tariffs.

To date, US pulp imports have received an exemption to any retaliatory tariffs the EU may apply to US imports, but government tariff policies can change at any time.

North America

Fastmarkets has already announced its intention to assess all North American pulp prices on a basis net of tariffs. Market pulp grades that may be affected by US tariffs on Canadian imports include northern bleached softwood kraft (NBSK), northern bleached hardwood kraft (NBHK) and unbleached softwood kraft (UKP) produced in Canada and shipped to the US.

Canada-produced pulp that complies with the US-Mexico-Canada Agreement (USMCA) trade agreement is exempt from tariffs.

To date, pulp imports from EU and Latin American countries face 10% tariffs, but government tariff policies can change at any time. Market pulp grades affected by US tariffs include NBSK and bleached eucalyptus kraft (BEK), and possibly others.

To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to these prices, please contact Matt Graves by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Matt Graves, re: Global pulp tariffs.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.