07:53:52 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 76,809,010
Close 2016-10-12 C$ 40.47
Market Cap C$ 3,108,460,635
Recent Sedar Documents

Globe says Interfor, rivals facing U.S. softwood duties

2016-10-13 06:41 ET - In the News

See In the News (C-IFP) Interfor Corp

The Globe and Mail reports in its Thursday edition that hefty U.S. duties could be slapped on Canadian timber exports to the United States by early 2017 after a one-year standstill period expired on Wednesday. The Globe's Steven Chase writes that this week marked 12 months since a nine-year truce in the Canada-U.S. softwood conflict ended -- with Ottawa and Washington unable to clinch a successor pact. This failure to agree means a costly and frustrating new season ahead for Canadian timber firms, which can expect to pay hundreds of millions of dollars to the U.S. government in order to keep shipping their product south. The U.S. lumber lobby behind the dispute with Canada -- it alleges provinces subsidize companies through below-market stumpage rates -- now says it has "no choice" but to launch a trade challenge with the American government. Under the U.S. system, preliminary duties can be levied on Canadian softwood imports into the United States six months after an unfair trading case is commenced with the Department of Commerce, and tariffs stay in place while American bureaucrats investigate the allegations. They can also be retroactively applied for up to 90 days.

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