19:37:10 EDT Thu 25 Apr 2024
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or Name
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CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 78,455,760
Close 2016-07-20 C$ 43.61
Market Cap C$ 3,421,455,694
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Globe/wire say Canfor, rivals hear envoy pan senators

2016-07-21 06:54 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Thursday, July 21, edition that Canada's ambassador to the United States is firing back at a group of U.S. senators who signed a public letter containing what he calls "inflated rhetoric" about Canadian softwood lumber. A Canadian Press dispatch to The Globe reports that earlier this week, 25 senators sent a letter to U.S. Trade Representative Michael Froman that alleged Canadian lumber is subsidized and unfairly traded. Ambassador David MacNaughton shot back on Wednesday in a missive of his own to U.S. Senator Ron Wyden, saying the Americans' letter contained "mischaracterizations." This week's exchange comes as the two countries try to negotiate a new deal to calm a recurring trade dispute over whether Canadian lumber producers are unfairly subsidized through cheap access to public land. Mr. MacNaughton wrote that Canada is committed to working with the U.S. to find a "durable solution" that makes the share of Canadian imports in the U.S. market more predictable. He said any deal must be flexible enough to reflect the commercial realities of the sector in regions across Canada. He said, "A successful negotiation is not guaranteed."

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