16:12:23 EDT Thu 28 Mar 2024
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West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 76,809,010
Close 2016-10-19 C$ 39.03
Market Cap C$ 2,997,855,660
Recent Sedar Documents

Globe says Interfor, rivals hear timber war looms

2016-10-19 07:15 ET - In the News

See In the News (C-IFP) Interfor Corp

The Globe and Mail reports in its Wednesday, Oct. 19, edition that the one-year standstill period for launching trade action under the 2006 Canadian-U.S. softwood lumber agreement has now expired. The Globe's guest columnist Peter McKenna writes that a very damaging timber war is set to begin, with the chances of an early lumber truce being slim to none. Washington's principal objection has always been Canada's forestry-management practices and its use of low cost stumpage fees on trees harvested on Crown land. It maintains, wrongly according to several previous dispute tribunal rulings, that Canada unfairly subsidizes its softwood lumber sector -- to the detriment of uncompetitive U.S. sawmills. Unfortunately, these mill owners have friends in the corridors of power in the White House and the U.S. Congress. The U.S. lumber lobby will be moving swiftly to launch a case against Canada for unfair trade practices and for the imposition of stiff import duties/tariffs against Canadian softwood in five or six months. It will follow that up with some unreasonable demands on the Canadian government to curtail substantially lumber exports to the U.S. marketplace.

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