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U.S., Canada say differences remain in softwood lumber dispute
Source: Reuters
Markets | Wed Jun 29, 2016 9:20pm EDT
U.S., Canada say differences remain in softwood lumber dispute
The United States and Canada have made important progress in negotiations over softwood lumber exports but significant differences remain in the long-running dispute, according to a joint U.S.-Canadian statement issued on Wednesday.
Talks will continue at "an intensive pace" with the hope of reaching an agreement this fall, said the statement from U.S. President Barack Obama and Canadian Prime Minister Justin Trudeau.
U.S. producers complain that Canadian lumber is subsidized, and they have in the past launched trade challenges that resulted in the United States imposing billions of dollars in tariffs.
The most recent round of arguments ended with a 2006 deal that expired in October 2015. Both sides agreed to take no action for a year after that, but without a new treaty, U.S. firms have made clear they will file new damage claims.
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U.S., Canada say differences remain in softwood lumber dispute
The United States and Canada have made important progress in negotiations over softwood lumber exports but significant differences remain in the long-running dispute, according to a joint U.S.-Canadian statement issued on Wednesday.
Talks will continue at "an intensive pace" with the hope of reaching an agreement this fall, said the statement from U.S. President Barack Obama and Canadian Prime Minister Justin Trudeau.
U.S. producers complain that Canadian lumber is subsidized, and they have in the past launched trade challenges that resulted in the United States imposing billions of dollars in tariffs.
The most recent round of arguments ended with a 2006 deal that expired in October 2015. Both sides agreed to take no action for a year after that, but without a new treaty, U.S. firms have made clear they will file new damage claims.
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Read more: http://www.reuters.com/article/us-usa-canada-trade-idUSKCN0ZG03Y?il=0
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