00:55:04 EDT Fri 26 Apr 2024
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West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,882,056
Close 2017-02-14 C$ 53.20
Market Cap C$ 4,036,925,379
Recent Sedar Documents

Globe says GM, others see border tax idea begin to fade

2017-02-15 06:33 ET - In the News

See In the News (C-GMM) General Motors Company

The Globe and Mail reports in its Wednesday edition that the Trudeau government is increasingly optimistic that a U.S. imposed border tax is unlikely to hit Canada. The Globe's Robert Fife writes that the proposed tax, promoted by Republican Paul Ryan, was never raised in the meeting between Prime Minister Justin Trudeau and President Donald Trump on Monday. Mr. Trump is said to be skeptical of the tax, calling it "too complicated." Mr. Trudeau voiced his own opposition to the proposed border tax on Monday. Mr. Ryan's plan would hit imports with a 20-per-cent tax while exports would enjoy a 20-per-cent tax subsidy. Canadian and U.S. corporate leaders are mounting an intense lobbying campaign against the Ryan blueprint. More than 100 U.S. retailers and trade associations have warned that the border tax would drive up consumer prices. The U.S. Senate finance committee, which must sign off on new tax proposals, has also raised concerns about how the tax would affect consumers, workers and shareholders. Mr. Trudeau returned from Washington with a major achievement -- a commitment from the President that he only wants to tweak the North American free-trade agreement as it affects Canadian trade.

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