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Vancouver-based West Fraser is the one firm that can see its price rise, report says
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The U.S. Division of Commerce plans to cut back tariffs for many Canadian softwood producers from nearly 18 per cent to 11.64 per cent.
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In a preliminary willpower launched late on Monday, the company mentioned Canadian lumber shipments to the U.S. will proceed to be topic to the 17.91 per cent, or firm particular, duties till it releases its last willpower anticipated in late November.
However the preliminary evaluation is a sign of the route the duties will transfer.
Vancouver-based West Fraser is the one firm that can see its price rise, from 11.14 per cent to 13.09 per cent, reviews the Globe and Mail.
Worldwide Commerce Minister Mary Ng mentioned the preliminary outcomes present that the U.S. intends to proceed its “unjustified duties on imports of Canadian softwood lumber.”
“U.S. duties on Canadian softwood harm forestry sector companies, employees and communities throughout Canada. They’re a tax on American customers and cut back the affordability of housing for American homebuyers at a time when housing costs are already at file highs,” Ng mentioned in a press release Monday.
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“Canada believes a negotiated resolution to this long-standing commerce concern is in one of the best pursuits of each our nations, and we are going to proceed to work intently with our business to defend Canadian pursuits.”
Canada and its southern neighbour have been preventing over softwood lumber for years. U.S. lumber producers argue that Canada subsidizes lumber manufacturing and dumps softwood into the U.S. at under market worth. Canada denies that its producers get subsidies, and that dumping into the U.S. market has occurred.
Within the newest spherical of the commerce dispute, Canadian producers have been paying U.S. lumber duties since April, 2017.
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