Lumber: Canadian Group Not Satisfied With U.S. Pact
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.