MONTREAL—The Conference Board of Canada says U.S. softwood lumber duties will cut $700 million from Canadian exports over two years and result in the reduction of 2,200 jobs. The board released a report Wednesday that says curtailed exports should lower the industry’s pre-tax profit to $1.1 billion in 2018, down from $1.8 billion last year and $1.4 billion this year, despite growing revenues. The U.S. government recently imposed preliminary countervailing duties ranging between 3 and 24 per cent on Canadian softwood lumber exports. Read more:Trump threatens 20 per cent tariff on Canadian softwood lumber

Source: thestar May 31, 2017 18:43 UTC