The placing of duties on Canadian lumber entering the United States doesn’t come as a shock to those connected to the forestry sector, but it not being a surprise doesn’t take away the sting. The tariff levied on Canadian exports of softwood lumber to the U.S. announced earlier this week by President Donald Trump was…
Following a lengthy, detailed investigation initiated in November 2016, the U.S. Department of Commerce last week determined that Canadian lumber exports to the U.S. market are subsidized and set an average tariff of 20 percent to offset these subsidies. For the U.S. forestry industry, the full and effective enforcement of the U.S. trade laws by…
Despite talk of diversification and the paradigm shift from goods to services, the forest industry remains a mainstay of British Columbia’s economy. It contributes about $12 billion to gross domestic products and 140 communities depend on it for their livelihood. One out of four jobs in manufacturing is in the forest industry. Nearly a quarter…
The softwood lumber dispute between Canada and the United States is back with a vengeance. Canadians who work in this industry, or who live in communities that rely on it, are worried. Many are fed up, and rightly so. But let’s remember that we’ve seen this movie before, more than once. It starts with the…
It may take homebuilders up to six months to feel the financial impact of the Trump administration’s recently announced tariff on Canadian softwood lumber imported into the U.S. Canadian lumber producers, however, don’t share the same timeline and will feel an impact immediately, but since many U.S. homebuilders lock in lumber prices months in advance,…
Canfor Corp., one of the world’s largest forestry companies, sees potential acquisition opportunities in the U.S. south as smaller companies struggle in the wake of carnage left by new softwood lumber duties. “We’ve got an appetite for [mergers and acquisitions],” Canfor CEO Don Kayne said on a conference call Thursday to discuss the company’s slightly…
A Toronto-based forestry group is calling on the federal government to support the country’s forestry industry in the wake of newly-imposed U.S. sanctions on softwood lumber exports. On Monday, the U.S. Commerce Department announced duties of up to 24 per cent on softwood lumber imports from Canada, alleging the Canadian industry is subsidized. “These unjust,…
Canada’s forest industry felt the slap of the countervailing duties they were bracing for late Monday, with confirmation out of Washington that a U.S. Commerce Department investigation has once again concluded that softwood lumber imports are unfairly subsidized. Canadian lumber imports are expected to face new duties ranging from three to 24 per cent, starting next…
Canada’s forest industry has transformed itself into one of the most innovative sectors of our economy, investing in research, developing new products and expanding its markets as it also sets the pace on environmental performance. Hundreds of thousands of Canadian workers and their local communities depend upon this industry’s continued success to support good middle-class…
Asian equities advanced on Tuesday as the return of risk appetite following a centrist victory in the first round of the French presidential election lifted several regional markets to multi-year highs, while the euro retained most of its overnight gains. Safe-haven assets, including the yen and gold remained under pressure, while the Canadian dollar fell…