U.S. and Canadian officials have agreed on language fleshing out an April pact to settle a long dispute over softwood lumber imports. But a British Columbia group’s members aren’t happy with the text.
The document, which U.S. and Canadian officials initialed July 1, lifts limits on Canadian lumber exports when prices top $355 per thousand board feet (MBF). When prices dip below that, shipments would face export charges or volume limits. Charges are capped at 15%, when prices go below $315 per MBF. Both sides agreed to drop litigation. Canadian interests would get 80% of the $5 billion in duties the U.S. collected since 2002.
But some BC Lumber Trade Council members made clear they won’t end their lawsuits until “outstanding issues” are dealt with, says council President John Allan.