USA finalises Canada softwood lumber tariffs
Wednesday 8 Nov 2017After much pre-decision posturing and positioning by politicians in both countries, the US Department of Commerce imposed final tariffs averaging 20.83 per cent against Canadian lumber, down from 26.75 per cent in the preliminary findings.
The rates fell for West Fraser, Canfor and Tolko and rose for Resolute and Irving. Other Canadian producers will pay 20.83 per cent. Meanwhile, Nova Scotia is excluded from tariffs while New Brunswick now has to pay.
Although the rate reduction brought lumber futures down from their 2-decade high, the range of reactions include:
> A positive step forward for the US industry (Jason Brochu, US Lumber Coalition)
> One step closer to getting hard-won relief (Ron Wyden D-Ore)
> Softwood scuffle isn’t over (Susan Yurkovich, Council of Forest Industries)
> Unfounded and unfair (Roger Melanson, New Brunswick Minister)
> A ‘Groundhog Day’ loop (John Horgan, BC Premier)
> Any level of softwood lumber duties is unfair trade (Jerry Dias, Unifor)
> Unfair, unwarranted and deeply troubling (Chrystia Freeland & Jim Carr, Canadian Government)
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