23:54:16 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 73,902,078
Close 2018-06-11 C$ 92.38
Market Cap C$ 6,827,073,966
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Globe says Canfor, others hear trade with U.S. balanced

2018-06-12 08:13 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Tuesday edition that President Donald Trump's decision to spotlight Canada's dairy tariffs should only be relevant to observers for what it reveals about his lack of understanding of free trade, and the hypocrisy and fakeness of his protectionist rhetoric. A Globe editorial says to start, Mr. Trump has repeatedly lied and said the United States has a trade deficit with Canada. In fact, The Globe says the U.S. had an $8.4-billion (U.S.) surplus with Canada in 2017, when you count both goods and services, which is the proper metric. Mr. Trump prefers to look only at the goods part of the equation, in which case his country ran a $17.5-billion (U.S.) deficit with Canada in 2017. No one else reads it that way. The Globe says the conclusion by sane economists in both countries is that trade between Canada and the U.S. is essentially in balance, a remarkable accomplishment given that the U.S. is our biggest trading partner and we are their second biggest. Mr. Trump said last week "Canada is charging massive tariffs" on U.S. goods. Canada, The Globe notes, has one of the lowest average tariff rates in the world. The Globe says Mr. Trump is losing control of his trade narrative.

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