The package announced today includes loans and loan guarantees to help cushion the blow for forestry companies and to help them explore new markets and innovations. OTTAWA—Natural Resources Minister Jim Carr is announcing $867 million in financial supports to help lumber producers and employees weather the impact of punishing new U.S. tariffs on Canadian softwood exports. On June 9, the U.S. Department of Commerce is set to decide an anti-dumping claim against Canadian softwood producers, and is expected to add as much as another 10 per cent tariff on top of the countervailing duties. Canadian producers paid about $5 billion in duties then, 80 per cent of which had to be returned to them as part of the negotiated settlement. This time around, a low Canadian dollar and high market demand for softwood is helping to cushion the blow.

Source: thestar June 01, 2017 17:37 UTC