20:21:08 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Resolute Forest Products Inc
Symbol RFP
Shares Issued 90,450,950
Close 2018-08-02 C$ 16.34
Market Cap C$ 1,477,968,523
Recent Sedar Documents

Globe says Resolute, others see final U.S. tariffs

2018-08-03 07:16 ET - In the News

Also In the News (C-CFX) Canfor Pulp Products Inc
Also In the News (C-WFT) West Fraser Timber Co Ltd

The Globe and Mail reports in its Friday edition that the U.S. Department of Commerce has reduced tariffs it is imposing against most Canadian newsprint in its final ruling, a move that lessens the impact on American newspapers already struggling financially. The Globe's Brent Jang quotes Commerce Secretary Wilbur Ross saying in a statement Thursday: "This was a complicated and unique case. The department worked hard to address the arguments raised, and I am satisfied that the final determinations appropriately targets bad actors." In its decision, the Commerce Department reduced the final tariffs to 20.26 per cent for Catalyst Paper Corp. and 9.53 per cent for Kruger Inc. The preliminary duties on uncoated groundwood paper, including newsprint and book-grade paper, had totalled 28.25 per cent for Catalyst and 32.09 per cent for Kruger. Resolute Forest Products saw its final duties rise to 9.81 per cent, compared with 4.42 per cent. Other Canadian groundwood producers face paying final tariffs of 8.54 per cent, compared with 28.69 per cent in the preliminary determination. The News Media Alliance said the underlying problem of extra newsprint costs due to continuing duties lingers for U.S. publishers.

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