United States finds Canada lumber harms U.S. producers; duties to remain

United States finds Canada lumber harms U.S. producers; duties to remain

The U.S. Lumber Coalition, which filed a petition previous year with the Commerce Department to open a case against Canada's softwood lumber industry, praised the decision.

"The U.S. Coalition's claims of injury ring particularly hollow given the extraordinary financial performance that the U.S. lumber industry is enjoying, and given that Canadian imports are at a lower level today than at the levels deemed non-injurious under both the 2006 Softwood Lumber Agreement and by the ITC itself in the last round of litigation".

On Nov. 28, the federal government announced that it Ottawa has requested World Trade Organization consultations with Washingto over anti-dumping and countervailing duties the U.S. Department of Commerce has set on softwood lumber imports from Canada.

American producers allege that the Canadian industry is subsidized by the provincial and federal governments, while in the US, prices are set by the market - a situation the USA contends is unfair.

A trade group for the U.S. lumber industry, one of the organisations that sought an investigation, welcomed the decision.

Freeland also warned that the duties threaten Canadian middle-class jobs, especially in rural and indigenous communities, while punishing American consumers with higher lumber prices.

The vote by four USITC commissioners was unanimous, according to the release.

The U.S. locked in final tariffs on softwood lumber from Canada, ratcheting up economic pressure with a top trading partner and showing the Trump administration's determination to punish what it sees as unfairly traded imports.

In November, the Commerce Department issued a final determination to slap hefty tariffs on exports from Canada.

The Canadian government has denied taking actions to prop up the industry to the detriment of the USA industry.

The 4-0 decision comes after the US Commerce Department failed to reach an agreement in the long-running trade dispute last month.

Protecting lumber mills is aligned with Mr. Trump's "America first" trade policy, and lawmakers from timber-growing areas of the Southeast and Pacific Northwest have made it clear they support a tough line with Canada to protect American mill workers and timberland owners.

In testimony this week before lawmakers, Canada's chief Nafta negotiator, Steve Verheul, said the softwood dispute between the US and Canada "will continue to be a hard issue" and said it is unlikely a solution will be incorporated in any renegotiated continental trade pact.

The tariffs affect Canadian softwood imports valued at nearly $5.7bn (C$7.3bn; £4.2bn) in 2016. Canadian producers paid about $500 million in deposits for the duties thus far, with more to come in 2018 if there is no settlement.

Related Articles

  • Applied Materials, Inc. (AMAT) Position Raised by Twin Capital Management Inc

    The company has a market capitalization of $53,409.67, a price-to-earnings ratio of 15.41, a PEG ratio of 0.95 and a beta of 1.80. A number of other hedge funds and other institutional investors have also made changes to their positions in the stock.

    Norwegian model accuses Kevin Spacey of sexual harassment

    In a statement, Spacey said he did not remember the alleged encounter but apologised if such "drunken behaviour" had occurred. Behn's accusations against Spacey come on the heels of multiple allegations of sexual misconduct against the Hollywood actor.
    Jonny Evans: West Brom boss Alan Pardew 'fears' losing captain in January

    Jonny Evans: West Brom boss Alan Pardew 'fears' losing captain in January

    He was terrific for me against Crystal Palace [Pardew's first game in charge, which ended 0-0]. Jonny Evans is in the sights of Manchester City and Arsenal.
  • Adobe Systems Incorporated (ADBE) Stake Increased by First Republic Investment Management Inc

    On a similar note, the stock is 2.65% above its 50-day moving average, providing a measure of support for short positions. Mairs & Power Inc increased Oasis Petroleum Inc (NYSE:OAS) stake by 121,400 shares to 352,620 valued at $2.84M in 2017Q2.

    Coming Out Of Shadows? KeyCorp (KEY), Cisco Systems, Inc. (CSCO)

    With its market cap stated above, the dividend yield for Cisco Systems, Inc ., CSCO is 3.10%. (NASDAQ: CSCO ) for 3.14M shares. Credit Suisse upgraded the stock to "Outperform" rating in Wednesday, January 13 report. (NASDAQ: CSCO ) for 17,912 shares.

    Ltd. Acquires 509223 Shares of NXP Semiconductors NV (NXPI)

    The firm has a market capitalization of $38,605.23, a price-to-earnings ratio of 19.98, a PEG ratio of 0.99 and a beta of 0.82. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) earned "Hold" rating by BMO Capital Markets on Monday, October 16.
  • Consolidated Edison, Inc. (ED) Shares Sold by Achmea Investment Management BV

    Castleton Investment Management LLC increased its position in Consolidated Edison by 87.7% during the third quarter. PNC Financial Services Group Inc. lifted its position in shares of Consolidated Edison by 1.8% in the 2nd quarter.
    EXTRA TIME: Drogba pays tribute to music icon Johnny Hallyday

    EXTRA TIME: Drogba pays tribute to music icon Johnny Hallyday

    He eventually took to the stage himself at the age of 12, singing country songs dressed as a young Davy Crockett. Hallyday began his successful career in the 1960s and was one of the leading artists of French rock.
    Argentine judge issues arrest warrant for Cristina Kirchner over terror attack cover-up

    Argentine judge issues arrest warrant for Cristina Kirchner over terror attack cover-up

    The Mutual Israeli-Argentina Assocation (AMIA), a Jewish community centre in Buenos Aires, was blown up by a Hezbollah member. The centre-right Cambiemos alliance of President Mauricio Macri has 25 seats in the upper house.
  • Rogers considering sale of Blue Jays, Cogeco stake

    Rogers considering sale of Blue Jays, Cogeco stake

    The Miami Marlins were sold to a group of investors for $1.2 billion in October. Rogers Communications has been the sole owner of the Blue Jays since 2004.
    Off-duty Florida police officer shot, suspect killed in parking lot of Walmart

    Off-duty Florida police officer shot, suspect killed in parking lot of Walmart

    The Florida Department of Law Enforcement will investigate the case, as it does for all shootings involving Miami-Dade police. "We ask for support and prayers from the community".

    Alec Baldwin Defends Comments About Sexual Harassment Accusers on 'Megyn Kelly Today'

    Baldwin wrote on Twitter , "Talk shows were once promotional pit stops for some blithe chit chat about movies, etc". Kelly chimed in to say women were in submissive positions years ago.