Canada no longer sees a softwood lumber duty as a threat, but as an inevitability and is wondering what sort of impact the duties will have on its forestry industry, RBC Dominion Securities analyst Paul Quinn stated while he was speaking at the Global Softwood Log and Lumber Conference in Vancouver on May 5.
The deadline imposed by President Obama and Canadian Prime Minister Justin Trudeau on their officials to reach a deal is in mid-June, but Quinn is "pessimistic [about] them finding a deal." Canadian forestry leaders appeared before the Canadian House of Commons Standing Committee on International Trade on May 4 to urge those officials to reach an agreement that will do well for Canadian interests and to voice their promise to work with Ottowa to fight for Canadian interests as the talks proceed.
"If a reasonable agreement cannot be reached, the industry is prepared to work alongside the Canadian government to defend itself against any potential punitive trade actions brought by the United States,” Kevin Edgson, president of Montreal-based EACOM, said.
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