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Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 73,902,078
Close 2018-06-08 C$ 96.00
Market Cap C$ 7,094,599,488
Recent Sedar Documents

Globe says Magna, others hear tariffs will cause pain

2018-06-11 09:36 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Monday, June 11, edition that Canada will sustain the most damage from United States tariffs on steel and aluminum, but jobs will be eliminated in the U.S. and gross domestic product in that country will be reduced. The Globe's Greg Keenan writes that those are among the conclusions of a study done by the C.D. Howe Institute on the 25-per-cent and 10-per-cent tariffs on steel and aluminum that the U.S. has imposed on imports of the metals from Canada, Mexico, the European Union and other countries. About 6,000 jobs will be shed in the Canadian economy and GDP in this country will take a hit of 0.11 per cent. The tariffs will lead to about 22,700 job losses in the U.S. and reduce GDP by 0.06 per cent. If, however, the real aim of President Donald Trump's belligerent new trade policy is China, it will miss the target with the steel and aluminum tariffs. The C.D. Howe study says, "The U.S. tariffs undermine the competitiveness of the NAFTA region, which works paradoxically to the benefit of most other regions." The study says, "For Canada, [retaliation] could double the pain." The study says Mr. Trump signalled from the very beginning he intended to reshape America's trade.

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