Not so much ‘America First’ as it is ‘Canada First’ for the lumber industry
Sept. 20, 2017 – President Trump’s campaign to put "America First" may be backfiring on him where the lumber industry is concerned.
Lumber prices have surged and costs have increased for American buyers, while Canadian producers are benefitting from a profit boost.
At a time when the U.S. is dealing with the aftermath of Hurricanes Harvey and Irma, higher lumber prices are making re-building even more challenging for Americans who have lost their homes.
The U.S. Department of Commerce added preliminary countervailing duties on Canadian softwood lumber imports heading to the U.S. in April 2017. They ranged from three to 24 per cent across Canadian lumber companies and further increased in June.
Tensions between Canada and the U.S. have escalated with this new development.
Read the full story by Bloomberg.