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West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 76,809,010
Close 2016-09-15 C$ 42.08
Market Cap C$ 3,232,123,141
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Globe says Canfor, rivals hear softwood spat at impasse

2016-09-15 07:22 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Thursday, Sept. 15, edition that Canada's International Trade Minister is warning it may not be possible for Canadian and American officials to settle a looming softwood-lumber battle before an October deadline -- after which Washington is free to slap duties on timber from Canada. The Globe's Steven Chase quotes Chrystia Freeland as saying, "This is a notoriously, historically tough and complicated issue to resolve." On Wednesday she met with counterpart U.S. Trade Representative Michael Froman on the matter. Ms. Freeland says, "We know it may not be possible -- but we are working hard at it." The U.S. proposal for a deal to manage the softwood-lumber trade envisions a level of exports from Canada that is still far below what Canada would accept. The dispute covers about $6-billion in annual exports. Ms. Freeland says there is goodwill among both the Trudeau and Obama administrations to try to resolve this but warns the protectionist climate in Washington is making it hard to reach a settlement. Mr. Froman is preparing to come to Canada the week of Oct. 3, to talk to Canadian softwood-lumber executives in an effort to bridge the impasse.

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