07:32:43 EDT Thu 25 Apr 2024
Enter Symbol
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USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,883,759
Close 2017-05-19 C$ 60.00
Market Cap C$ 4,553,025,540
Recent Sedar Documents

Globe/CP say Canfor, rivals hear softwood aid delayed

2017-05-23 06:51 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Saturday edition that a made-in-Canada solution to help the softwood industry weather the storm of U.S. duties has been delayed at least until the end of May. A Canadian Press dispatch to The Globe reports that in the last month the U.S. Department of Commerce slapped import duties of 3 per cent to 24 per cent on Canadian softwood. Cabinet discussed a package of options for up to $1-billion in aid for the softwood industry last week, but negotiations with industry and provincial governments continue. An unnamed source says Natural Resources Minister Jim Carr had hoped to have the plan ready to present publicly by the end of last week, but things did not conclude in time. The House of Commons is off this week for a break, which means the earliest cabinet can finalize the plan now is May 30. One source says Ottawa was reluctant at first to do any kind of aid package, but has since changed its mind. Quebec and Ontario have been pressing Ottawa to get loan guarantees ready since at least February. Mr. Carr said last week "everything is on the table" when it comes to possible help for the industry as Canada prepares to fight the U.S. tariffs in court.

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