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West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 78,455,760
Close 2016-06-17 C$ 37.88
Market Cap C$ 2,971,904,189
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Globe says Canfor, rivals see trade dispute looms again

2016-06-20 05:58 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Saturday, June 18, edition that Canadian and United States negotiators say they are still far apart in heading off another flare-up of the long-running softwood lumber dispute. The Globe's Barrie McKenna writes that Prime Minister Justin Trudeau and U.S. President Barack Obama pledged in mid-March to try to reach a settlement over the next 100 days. With the clock set to run out on Saturday, the two sides released a joint statement, saying they have made "significant advances" on key issues. "While significant differences remain between us, this period of intensive engagement has helped define shared goals and explore options for several key components of any new agreement," Canadian Trade Minister Chrystia Freeland and U.S. Trade Representative Michael Froman said on Friday. Most experts, however, say the dispute, which involves approximately $6-billion in Canadian exports, is likely headed for litigation, with interim duties imposed on U.S.-bound lumber soon after a mutually agreed truce expires in October. One challenge for Canada is that domestic lumber producers are split over the best strategy, say officials in Ottawa.

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