MONTREAL—Canadian softwood lumber producers will be hammered slightly less forcefully after the U.S. government reduced export duties for most Canadian producers following failed political talks. The Canadian government responded by saying it will continue to defend the lumber industry against protectionist trade measures. “The U.S. Department of Commerce’s decision on punitive countervailing and anti-dumping duties against Canada’s softwood lumber producers is unfair, unwarranted and deeply troubling,” Foreign Affairs Minister Chrystia Freeland and Natural Resources Minister Jim Carr said in a joint statement. The U.S. agency said Canadian producers have exported softwood lumber to the U.S. at 3.2 to 8.89 per cent less than fair value. The United States imported $5.66 billion (U.S.) worth of softwood lumber last year from Canada.

Source: thestar November 02, 2017 16:35 UTC