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Western Forest Products Inc
Symbol WEF
Shares Issued 316,745,557
Close 2025-02-20 C$ 0.48
Market Cap C$ 152,037,867
Recent Sedar Documents

Globe says Canfor, rivals hear U.S. may widen tariffs

2025-02-21 07:38 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Friday, Feb. 21, edition that U.S. President Donald Trump is proposing global tariffs on softwood lumber starting in April, expanding duties beyond Canada to include Europe. The Globe's Brent Jang writes that the U.S. Department of Commerce already imposes duties on Canadian lumber shipments, and Mr. Trump has now added lumber and forest products to the list of targeted goods. Canadian softwood recently accounted for 24 per cent of total U.S. lumber consumption, compared with nearly 33 per cent in 2016. The remainder of softwood shipments into the U.S. arrive mostly from Europe. Canfor, which has a majority interest in a producer in Sweden, could face new tariffs for Swedish lumber sales into the U.S. market. The U.S. President has said he plans to slap 25-per-cent tariffs on all goods that the U.S. imports from Canada and Mexico, starting in early March. Mr. Trump has repeatedly said that the U.S. does not need Canadian resources such as softwood, but trade statistics confirm that lumber shipments headed south of the border from Canada are crucial, said David MacNaughton, Canada's former ambassador to the U.S.

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