07:41:06 EDT Tue 22 Oct 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 77,984,339
Close 2024-10-04 C$ 131.32
Market Cap C$ 10,240,903,397
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Globe says Canfor, rivals hear trade barriers deceptive

2024-10-07 09:00 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Monday, Oct. 7, edition that world powers are increasingly imposing trade barriers to protect domestic industries and jobs. The Globe's guest columnist Ian Dunn writes that the ongoing softwood-lumber trade dispute, dating back to the Jay Treaty of 1794, is a major issue for Ontario's lumber producers. Since the last agreement ended in 2017, Canadian lumber producers have paid over $9-billion in duties. The U.S. has a growing pot of money from Canadian lumber imports. They allege that Canada is subsidizing its industry and selling lumber below production costs. Mr. Dunn says duties imposed by the U.S. Department of Commerce to protect American jobs are seen as deceptive. The Department of Commerce seems determined to limit Canada's competitive advantage, disregarding the impact on U.S. consumers and international rulings. Protectionism can have the opposite impact of what it aims to achieve, weakening cross-border supply chains and exposing us to security and trade risks from geopolitical rivals. Higher prices due to politically motivated trade barriers should concern the U.S. electorate. American businesses may experience continued supply chain disruptions.

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